MRP Capital Investments LLC Increases Stock Position in MP Materials Corp. $MP

MRP Capital Investments LLC raised its stake in shares of MP Materials Corp. (NYSE:MP) by 44.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,125 shares of the company’s stock after purchasing an additional 12,600 shares during the period. MRP Capital Investments LLC’s holdings in MP Materials were worth $1,368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in MP. Caxton Associates LLP purchased a new stake in shares of MP Materials in the second quarter worth about $132,238,000. National Bank of Canada FI increased its stake in MP Materials by 19,314.3% in the 2nd quarter. National Bank of Canada FI now owns 2,013,462 shares of the company’s stock worth $66,987,000 after acquiring an additional 2,003,091 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of MP Materials during the 1st quarter worth approximately $34,288,000. BNP Paribas Financial Markets raised its holdings in shares of MP Materials by 76.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock worth $97,200,000 after acquiring an additional 1,264,243 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of MP Materials by 429.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company’s stock valued at $37,839,000 after acquiring an additional 1,257,282 shares during the last quarter. 52.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MP. Wall Street Zen cut shares of MP Materials from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Deutsche Bank Aktiengesellschaft upgraded MP Materials from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $71.00 in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a report on Wednesday, October 8th. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $75.00 to $74.00 in a report on Friday, November 14th. Finally, The Goldman Sachs Group began coverage on shares of MP Materials in a research note on Wednesday, November 19th. They set a “buy” rating and a $77.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.91.

Insider Buying and Selling at MP Materials

In other news, CFO Ryan Corbett sold 38,146 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the transaction, the chief financial officer owned 156,666 shares of the company’s stock, valued at approximately $9,399,960. This represents a 19.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James H. Litinsky sold 385,000 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $62.94, for a total value of $24,231,900.00. Following the transaction, the chief executive officer owned 13,105,965 shares in the company, valued at approximately $824,889,437.10. This represents a 2.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 691,557 shares of company stock valued at $43,538,586 over the last quarter. Company insiders own 9.50% of the company’s stock.

MP Materials Trading Down 5.6%

Shares of MP opened at $56.67 on Friday. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of -79.81 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. MP Materials Corp. has a 1-year low of $15.56 and a 1-year high of $100.25. The company has a 50-day moving average of $65.50 and a 200 day moving average of $58.22.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $53.55 million for the quarter, compared to analyst estimates of $49.72 million. During the same period last year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. On average, research analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

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.