Mutual Advisors LLC Decreases Stock Position in MP Materials Corp. $MP

Mutual Advisors LLC reduced its position in MP Materials Corp. (NYSE:MP) by 51.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,302 shares of the company’s stock after selling 12,057 shares during the period. Mutual Advisors LLC’s holdings in MP Materials were worth $774,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MP. Sound Income Strategies LLC lifted its stake in shares of MP Materials by 420.0% in the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 294 shares in the last quarter. Spire Wealth Management increased its holdings in MP Materials by 181.3% during the 2nd quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock worth $34,000 after purchasing an additional 651 shares during the last quarter. Grove Bank & Trust purchased a new stake in MP Materials during the 3rd quarter worth approximately $34,000. SJS Investment Consulting Inc. raised its position in shares of MP Materials by 4,600.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock valued at $38,000 after purchasing an additional 552 shares in the last quarter. Finally, Hilltop National Bank boosted its stake in shares of MP Materials by 500.0% during the 3rd quarter. Hilltop National Bank now owns 600 shares of the company’s stock valued at $40,000 after buying an additional 500 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Trading Down 6.9%

NYSE MP opened at $56.40 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 7.51 and a current ratio of 8.05. MP Materials Corp. has a one year low of $18.64 and a one year high of $100.25. The company has a 50-day simple moving average of $59.81 and a 200-day simple moving average of $64.90. The firm has a market capitalization of $10.00 billion, a PE ratio of -79.43 and a beta of 1.60.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The firm had revenue of $53.55 million for the quarter, compared to analysts’ expectations of $49.72 million. During the same quarter last year, the company posted ($0.12) earnings per share. MP Materials’s revenue was down 14.9% on a year-over-year basis. On average, equities analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of MP Materials from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $71.00 in a research note on Monday, November 10th. The Goldman Sachs Group assumed coverage on shares of MP Materials in a research report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 target price for the company. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research note on Thursday, November 20th. Wall Street Zen downgraded MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, BMO Capital Markets raised MP Materials from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $76.00 to $75.00 in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, MP Materials presently has an average rating of “Moderate Buy” and a consensus target price of $78.91.

Insider Buying and Selling

In other MP Materials news, 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 sale, the chief executive officer directly owned 12,805,965 shares of the company’s stock, valued at $821,758,774.05. This trade represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ryan Corbett sold 38,146 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total value of $2,288,760.00. Following the completion of the sale, the chief financial officer owned 156,666 shares in the company, valued at $9,399,960. The trade was a 19.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 991,557 shares of company stock worth $62,785,202 over the last quarter. Insiders own 9.50% of the company’s stock.

MP Materials Company Profile

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.