16,840 Shares in MP Materials Corp. $MP Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC bought a new position in MP Materials Corp. (NYSE:MP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,840 shares of the company’s stock, valued at approximately $851,000.

Other hedge funds also recently made changes to their positions in the company. Private Advisory Group LLC purchased a new stake in shares of MP Materials in the fourth quarter worth about $9,702,000. Polianta Ltd purchased a new stake in shares of MP Materials in the fourth quarter worth about $1,227,000. South Dakota Investment Council purchased a new stake in shares of MP Materials in the third quarter worth about $1,617,000. Dorsey Wright & Associates lifted its position in shares of 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 buying an additional 54,031 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of MP Materials in the third quarter worth about $3,505,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on MP shares. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Wedbush boosted their price objective on MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Morgan Stanley boosted their price objective on MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Canaccord Genuity Group set a $82.00 price objective on MP Materials in a research note on Friday, May 8th. Finally, TD Securities raised MP Materials to a “strong-buy” rating in a research note on Monday, February 9th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, MP Materials currently has a consensus rating of “Buy” and a consensus price target of $80.08.

MP Materials Trading Down 0.2%

MP opened at $64.57 on Monday. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of -153.75 and a beta of 1.86. The stock’s 50 day moving average price is $59.36 and its 200-day moving average price is $59.49. MP Materials Corp. has a one year low of $19.60 and a one year high of $100.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18.

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

Insiders Place Their Bets

In related news, COO Michael Stuart Rosenthal bought 17,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $56.62 per share, for a total transaction of $962,540.00. Following the completion of the acquisition, the chief operating officer directly owned 1,333,673 shares in the company, valued at approximately $75,512,565.26. This represents a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 20,000 shares of the business’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 transaction, the chief financial officer owned 109,017 shares in the company, valued at approximately $8,176,275. This trade represents a 15.50% decrease in their ownership of the stock. 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 1,066,000 shares of company stock worth $69,329,207 over the last 90 days. Company insiders own 8.20% of the company’s stock.

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.