Savvy Advisors Inc. Takes $1.57 Million Position in MP Materials Corp. $MP

Savvy Advisors Inc. bought a new stake in MP Materials Corp. (NYSE:MP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 31,048 shares of the company’s stock, valued at approximately $1,569,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Calamos Advisors LLC acquired a new stake in shares of MP Materials during the third quarter worth $16,726,000. Campbell & CO Investment Adviser LLC bought a new position in MP Materials during the third quarter worth about $670,000. Private Advisory Group LLC bought a new position in MP Materials during the fourth quarter worth about $9,702,000. Concurrent Investment Advisors LLC acquired a new position in MP Materials during the 3rd quarter worth approximately $550,000. Finally, Pier 88 Investment Partners LLC bought a new position in MP Materials in the third quarter valued at $1,089,000. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Trading Up 3.0%

Shares of MP stock opened at $51.22 on Tuesday. The stock’s fifty day moving average price is $57.56 and its two-hundred day moving average price is $61.77. The company has a market cap of $9.10 billion, a PE ratio of -98.50 and a beta of 1.67. 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 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 issued its earnings results on Thursday, February 26th. The company reported $0.09 earnings per share 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 firm had revenue of $52.69 million for the quarter, compared to the consensus estimate of $76.06 million. During the same quarter last year, the business posted ($0.12) EPS. The company’s revenue was down 13.6% compared to the same quarter last year. Equities analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at MP Materials

In related news, CEO James H. Litinsky sold 272,600 shares of the firm’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the sale, the chief executive officer 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ryan Corbett sold 46,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $60.00, for a total value of $2,760,000.00. Following the sale, the chief financial officer directly owned 129,017 shares in the company, valued at approximately $7,741,020. This trade represents a 26.28% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 346,000 shares of company stock worth $22,006,616. 9.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MP has been the topic of several analyst reports. DA Davidson reiterated a “buy” rating and set a $82.00 target price on shares of MP Materials in a report on Wednesday, March 11th. William Blair restated an “outperform” rating on shares of MP Materials in a research note on Wednesday, March 4th. TD Securities upgraded MP Materials to a “strong-buy” rating in a research note on Monday, February 9th. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $78.91.

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.