600,000 Shares in MP Materials Corp. $MP Bought by Groupama Asset Managment

Groupama Asset Managment acquired a new stake in MP Materials Corp. (NYSE:MP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 600,000 shares of the company’s stock, valued at approximately $19,962,000. Groupama Asset Managment owned 0.37% of MP Materials at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in shares of MP Materials by 12.6% in the first quarter. Envestnet Asset Management Inc. now owns 23,254 shares of the company’s stock valued at $568,000 after buying an additional 2,604 shares in the last quarter. CWM LLC lifted its position in MP Materials by 16.5% during the 1st quarter. CWM LLC now owns 3,566 shares of the company’s stock worth $87,000 after acquiring an additional 505 shares in the last quarter. IFP Advisors Inc boosted its holdings in MP Materials by 47.8% in the 1st quarter. IFP Advisors Inc now owns 2,970 shares of the company’s stock worth $76,000 after acquiring an additional 960 shares during the period. Allianz Asset Management GmbH purchased a new position in MP Materials in the 1st quarter worth approximately $274,000. Finally, Cetera Investment Advisers grew its position in MP Materials by 193.1% in the first quarter. Cetera Investment Advisers now owns 123,455 shares of the company’s stock valued at $3,014,000 after acquiring an additional 81,337 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on MP shares. BMO Capital Markets upgraded shares of MP Materials from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $76.00 to $75.00 in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research note on Wednesday, October 8th. Morgan Stanley set a $69.00 price objective on shares of MP Materials in a report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on MP Materials in a research note on Wednesday, November 19th. They set a “buy” rating and a $77.00 target price for the company. Finally, Cfra Research raised MP Materials to a “moderate buy” rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MP Materials currently has an average rating of “Moderate Buy” and a consensus target price of $78.73.

MP Materials Trading Up 3.4%

MP opened at $60.17 on Friday. MP Materials Corp. has a 12-month low of $15.56 and a 12-month high of $100.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. The stock has a market capitalization of $10.66 billion, a PE ratio of -84.75 and a beta of 2.26. The firm’s fifty day moving average price is $67.96 and its 200 day moving average price is $54.94.

MP Materials (NYSE:MP) last released its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The company had revenue of $53.55 million during the quarter, compared to the consensus estimate of $49.72 million. During the same quarter in the previous year, the firm earned ($0.12) EPS. The company’s revenue was down 14.9% on a year-over-year basis. As a group, research analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Activity

In other news, CEO James H. Litinsky sold 248,411 shares of MP Materials stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $63.86, for a total value of $15,863,526.46. Following the completion of the transaction, the chief executive officer owned 13,369,665 shares in the company, valued at approximately $853,786,806.90. This trade represents a 1.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $57.72, for a total value of $1,154,400.00. Following the completion of the sale, the chief financial officer owned 194,812 shares of the company’s stock, valued at $11,244,548.64. This trade represents a 9.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.