MP Materials Corp. $MP Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC grew its position in MP Materials Corp. (NYSE:MP) by 83.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,047 shares of the company’s stock after purchasing an additional 17,708 shares during the period. Corient Private Wealth LLC’s holdings in MP Materials were worth $1,972,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of MP Materials during the fourth quarter worth about $82,531,000. BNP Paribas Financial Markets increased its holdings in MP Materials by 76.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock worth $97,200,000 after buying an additional 1,264,243 shares during the period. Van ECK Associates Corp increased its holdings in MP Materials by 71.6% in the 4th quarter. Van ECK Associates Corp now owns 2,834,914 shares of the company’s stock worth $143,220,000 after buying an additional 1,183,307 shares during the period. Hancock Prospecting Pty Ltd raised its position in MP Materials by 7.2% during the 3rd quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company’s stock worth $996,741,000 after buying an additional 1,000,000 shares during the last quarter. Finally, Amundi raised its position in MP Materials by 1,320.8% during the 3rd quarter. Amundi now owns 954,317 shares of the company’s stock worth $70,934,000 after buying an additional 887,148 shares during the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MP Materials

In other news, COO Michael Stuart Rosenthal purchased 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $56.62 per share, for a total transaction of $962,540.00. Following the completion of the transaction, the chief operating officer owned 1,333,673 shares in the company, valued at $75,512,565.26. This represents a 1.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ryan Corbett sold 20,000 shares of MP Materials stock in a transaction on Friday, May 8th. The shares were sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief financial officer directly owned 109,017 shares of the company’s stock, valued at $8,176,275. The trade was a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,205,167 shares of company stock worth $79,371,654 in the last three months. Company insiders own 8.20% of the company’s stock.

MP Materials Stock Up 1.6%

Shares of MP stock opened at $54.74 on Tuesday. MP Materials Corp. has a twelve month low of $29.58 and a twelve month high of $100.25. The stock has a market cap of $9.75 billion, a P/E ratio of -130.35 and a beta of 1.86. The stock has a 50 day moving average of $62.23 and a 200 day moving average of $59.50. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $90.65 million for the quarter, compared to analyst estimates of $74.82 million. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The business’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.12) EPS. As a group, sell-side analysts expect that MP Materials Corp. will post -0.04 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on MP. Barclays initiated coverage on shares of MP Materials in a report on Thursday, May 21st. They issued an “overweight” rating and a $69.00 price objective on the stock. Needham & Company LLC initiated coverage on shares of MP Materials in a report on Monday, June 1st. They set a “buy” rating and a $81.00 target price for the company. Morgan Stanley boosted their target price on shares of MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $82.00 price target on shares of MP Materials in a report on Friday, June 5th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $80.14.

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.