Trifecta Capital Advisors LLC Purchases New Position in MP Materials Corp. $MP

Trifecta Capital Advisors LLC purchased a new stake in shares of MP Materials Corp. (NYSE:MP) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,300 shares of the company’s stock, valued at approximately $143,000.

A number of other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in MP Materials by 2.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company’s stock worth $412,000 after buying an additional 358 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MP Materials by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock worth $265,000 after buying an additional 479 shares in the last quarter. CWM LLC grew its stake in MP Materials by 16.5% in the 1st quarter. CWM LLC now owns 3,566 shares of the company’s stock worth $87,000 after buying an additional 505 shares in the last quarter. AdvisorNet Financial Inc grew its stake in MP Materials by 168.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after buying an additional 506 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in MP Materials by 51.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 1,510 shares of the company’s stock worth $50,000 after buying an additional 510 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MP has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of MP Materials from $20.00 to $69.00 and gave the stock a “hold” rating in a research note on Thursday, July 17th. Morgan Stanley set a $69.00 price target on shares of MP Materials in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research note on Wednesday. DA Davidson boosted their price target on shares of MP Materials from $32.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Finally, Cfra Research raised shares of MP Materials to a “moderate buy” rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, MP Materials has an average rating of “Moderate Buy” and a consensus target price of $68.78.

MP Materials Price Performance

Shares of MP Materials stock opened at $70.57 on Thursday. MP Materials Corp. has a 52-week low of $15.56 and a 52-week high of $82.50. The stock has a market capitalization of $12.50 billion, a price-to-earnings ratio of -112.02 and a beta of 2.32. The company has a fifty day moving average of $69.40 and a 200-day moving average of $44.31. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $44.84 million. During the same quarter in the prior year, the company earned ($0.17) EPS. The firm’s revenue was up 83.6% on a year-over-year basis. Equities research analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Insiders Place Their Bets

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the completion of the sale, the chief operating officer owned 1,284,409 shares of the company’s stock, valued at $92,503,136.18. This represents a 10.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.50% of the stock is owned by insiders.

MP Materials Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.