Counterpoint Mutual Funds LLC Sells 57,389 Shares of MP Materials Corp. $MP

Counterpoint Mutual Funds LLC reduced its position in MP Materials Corp. (NYSE:MP) by 90.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,724 shares of the company’s stock after selling 57,389 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in MP Materials were worth $276,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Private Advisory Group LLC purchased a new position in shares of MP Materials during the fourth quarter worth approximately $9,702,000. Polianta Ltd bought a new stake in shares of MP Materials in the fourth quarter valued at about $1,227,000. Dorsey Wright & Associates lifted its stake in MP Materials by 84.1% in the third quarter. Dorsey Wright & Associates now owns 118,252 shares of the company’s stock worth $7,931,000 after acquiring an additional 54,031 shares during the period. MH & Associates Securities Management Corp ADV purchased a new stake in MP Materials in the fourth quarter worth about $1,184,000. Finally, Leonteq Securities AG bought a new position in MP Materials during the 4th quarter worth about $2,451,000. Institutional investors own 52.55% of the company’s stock.

Insider Activity

In other MP Materials news, COO Michael Stuart Rosenthal acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average price of $54.30 per share, for a total transaction of $543,000.00. Following the acquisition, the chief operating officer owned 136,622 shares in the company, valued at approximately $7,418,574.60. This trade represents a 7.90% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 20,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the completion of the sale, 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,205,167 shares of company stock worth $79,371,654. Insiders own 8.20% of the company’s stock.

MP Materials Stock Performance

MP stock opened at $53.27 on Monday. MP Materials Corp. has a one year low of $29.58 and a one year high of $100.25. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of -126.84 and a beta of 1.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18. The firm has a 50-day simple moving average of $61.32 and a two-hundred day simple moving average of $59.42.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The firm had revenue of $90.65 million for the quarter, compared to the consensus estimate of $74.82 million. During the same quarter in the previous year, the firm earned ($0.12) EPS. The company’s quarterly revenue was up 49.1% compared to the same quarter last year. On average, equities analysts forecast that MP Materials Corp. will post -0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on MP. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of MP Materials in a research report on Tuesday, May 12th. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Wedbush increased their price objective on shares of MP Materials from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Morgan Stanley lifted their price objective on shares of MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $80.14.

MP Materials 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.