Campbell & CO Investment Adviser LLC Makes New $670,000 Investment in MP Materials Corp. $MP

Campbell & CO Investment Adviser LLC purchased a new position in shares of MP Materials Corp. (NYSE:MP) during the 3rd quarter, HoldingsChannel reports. The firm purchased 9,987 shares of the company’s stock, valued at approximately $670,000.

Several other institutional investors and hedge funds have also modified their holdings of MP. Blue Square Asset Management LLC bought a new position in MP Materials during the third quarter valued at about $262,000. Rakuten Securities Inc. acquired a new position in shares of MP Materials during the 3rd quarter valued at about $301,000. Wealth Effects LLC bought a new position in shares of MP Materials in the 3rd quarter valued at approximately $371,000. Udine Wealth Management Inc. acquired a new stake in MP Materials in the 3rd quarter worth approximately $2,596,000. Finally, Stephens Inc. AR acquired a new stake in MP Materials in the 3rd quarter worth approximately $321,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MP. BMO Capital Markets raised shares of MP Materials from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $76.00 to $75.00 in a research report on Monday, November 24th. William Blair began coverage on shares of MP Materials in a report on Tuesday, January 13th. They issued an “outperform” rating on the stock. DA Davidson reissued a “buy” rating and set a $82.00 target price on shares of MP Materials in a research report on Thursday, November 20th. The Goldman Sachs Group started coverage on MP Materials in a research report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised MP Materials from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $71.00 in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.91.

MP Materials Stock Down 0.8%

MP opened at $68.44 on Wednesday. The company has a market capitalization of $12.13 billion, a P/E ratio of -96.40 and a beta of 1.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. The firm’s fifty day moving average price is $58.67 and its two-hundred day moving average price is $63.78. MP Materials Corp. has a fifty-two week low of $18.64 and a fifty-two week high of $100.25.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. The company had revenue of $53.55 million during the quarter, compared to the consensus estimate of $49.72 million. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. During the same period last year, the firm earned ($0.12) EPS. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Activity at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 38,146 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total value of $2,288,760.00. Following the sale, the chief financial officer directly owned 156,666 shares in the company, valued at $9,399,960. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 272,600 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $64.17, for a total value of $17,492,742.00. Following the transaction, the chief executive officer owned 12,805,965 shares of the company’s stock, valued at $821,758,774.05. This represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 991,557 shares of company stock worth $62,785,202. Corporate insiders own 12.60% of the company’s stock.

About MP Materials

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.