Strengthening Families & Communities LLC Raises Stake in MP Materials Corp. $MP

Strengthening Families & Communities LLC lifted its stake in MP Materials Corp. (NYSE:MP) by 2,053.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,128 shares of the company’s stock after purchasing an additional 47,800 shares during the period. Strengthening Families & Communities LLC’s holdings in MP Materials were worth $3,101,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in MP Materials by 26.5% in the 1st quarter. Royal Bank of Canada now owns 234,185 shares of the company’s stock worth $5,716,000 after acquiring an additional 49,052 shares in the last quarter. AQR Capital Management LLC bought a new position in MP Materials in the first quarter worth approximately $215,000. Integrated Wealth Concepts LLC purchased a new position in MP Materials during the 1st quarter worth $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in MP Materials by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock valued at $265,000 after purchasing an additional 479 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in MP Materials by 36.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company’s stock valued at $4,734,000 after purchasing an additional 51,348 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $68.50 to $71.00 in a research note on Friday, December 5th. Deutsche Bank Aktiengesellschaft upgraded shares of MP Materials from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $71.00 in a report on Monday, November 10th. DA Davidson restated a “buy” rating and issued a $82.00 price target on shares of MP Materials in a report on Thursday, November 20th. 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, November 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $78.91.

Insider Buying and Selling at MP Materials

In related news, CFO Ryan Corbett sold 38,146 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total value of $2,288,760.00. Following the transaction, the chief financial officer owned 156,666 shares in the company, valued at approximately $9,399,960. This represents a 19.58% decrease in their position. The sale 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 transaction of $24,231,900.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 991,557 shares of company stock worth $62,785,202. 9.50% of the stock is owned by insiders.

MP Materials Stock Up 0.7%

Shares of MP Materials stock opened at $59.16 on Tuesday. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.49 billion, a P/E ratio of -83.33 and a beta of 1.62. The firm’s 50 day moving average price is $59.75 and its 200-day moving average price is $64.98. MP Materials Corp. has a 52-week low of $18.64 and a 52-week high of $100.25.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. The business had revenue of $53.55 million for the quarter, compared to the consensus estimate of $49.72 million. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The business’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.12) earnings per share. On average, sell-side analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

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.