Commons Capital LLC Makes New Investment in MP Materials Corp. $MP

Commons Capital LLC acquired a new position in shares of MP Materials Corp. (NYSE:MP) in the 4th quarter, HoldingsChannel reports. The fund acquired 26,854 shares of the company’s stock, valued at approximately $1,357,000.

A number of other hedge funds have also made changes to their positions in MP. Sound Income Strategies LLC raised its position in shares of MP Materials by 420.0% during the 3rd 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. Grove Bank & Trust acquired a new position in MP Materials in the third quarter valued at approximately $34,000. SJS Investment Consulting Inc. increased its stake in MP Materials by 4,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock valued at $38,000 after purchasing an additional 552 shares during the last quarter. Hilltop National Bank grew its stake in MP Materials by 500.0% during the 3rd quarter. Hilltop National Bank now owns 600 shares of the company’s stock worth $40,000 after buying an additional 500 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of MP Materials by 75.9% during the third quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock worth $43,000 after acquiring an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Insider Activity at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 272,600 shares of the business’s 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 completion of the transaction, the chief executive officer directly owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. The trade was a 2.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ryan Corbett sold 46,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $60.00, for a total value of $2,760,000.00. Following the sale, the chief financial officer owned 129,017 shares in the company, valued at $7,741,020. This trade represents a 26.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 346,000 shares of company stock valued at $22,006,616 over the last ninety days. 9.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research note on Thursday, January 22nd. DA Davidson restated a “buy” rating and issued a $82.00 price target on shares of MP Materials in a report on Wednesday, March 11th. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $68.50 to $71.00 in a research report on Friday, December 5th. Finally, BMO Capital Markets raised MP Materials from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $76.00 to $75.00 in a report on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, MP Materials currently has a consensus rating of “Buy” and a consensus price target of $78.91.

MP Materials Stock Performance

MP Materials stock opened at $53.22 on Friday. MP Materials Corp. has a fifty-two week low of $18.64 and a fifty-two week high of $100.25. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of -102.34 and a beta of 1.55. The stock has a fifty day moving average of $61.40 and a two-hundred day moving average of $63.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.67 and a current ratio of 7.24.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. MP Materials had a negative return on equity of 4.28% and a negative net margin of 38.26%.The business had revenue of $52.69 million for the quarter, compared to analyst estimates of $76.06 million. During the same quarter last year, the company earned ($0.12) earnings per share. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. On average, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

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.