Strs Ohio Sells 32,994 Shares of MP Materials Corp. $MP

Strs Ohio lowered its position in MP Materials Corp. (NYSE:MP) by 91.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,129 shares of the company’s stock after selling 32,994 shares during the period. Strs Ohio’s holdings in MP Materials were worth $158,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of MP. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of MP Materials in the 4th quarter worth approximately $26,000. Financial Consulate Inc. lifted its position in shares of MP Materials by 555.3% in the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares during the period. Bessemer Group Inc. lifted its position in shares of MP Materials by 75.9% in the 3rd quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock worth $43,000 after acquiring an additional 277 shares during the period. Montag A & Associates Inc. lifted its position in shares of MP Materials by 106.2% in the 3rd quarter. Montag A & Associates Inc. now owns 635 shares of the company’s stock worth $43,000 after acquiring an additional 327 shares during the period. Finally, Bogart Wealth LLC bought a new stake in shares of MP Materials in the 4th quarter worth approximately $47,000. Institutional investors own 52.55% of the company’s stock.

MP Materials Price Performance

MP Materials stock opened at $67.42 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.18 and a quick ratio of 6.58. The company has a market capitalization of $11.98 billion, a PE ratio of -160.53 and a beta of 1.90. MP Materials Corp. has a one year low of $18.64 and a one year high of $100.25. The business has a 50 day simple moving average of $58.70 and a 200 day simple moving average of $59.49.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate 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 business had revenue of $90.65 million during the quarter, compared to the consensus estimate of $74.82 million. During the same quarter last year, the company earned ($0.12) EPS. MP Materials’s revenue was up 49.1% on a year-over-year basis. On average, sell-side analysts forecast that MP Materials Corp. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 46,000 shares of MP Materials stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $60.00, for a total value of $2,760,000.00. Following the completion of the transaction, the chief financial officer owned 129,017 shares in the company, valued at approximately $7,741,020. The trade was a 26.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James H. Litinsky sold 259,179 shares of MP Materials stock in a transaction on Monday, April 20th. The shares were sold at an average price of $64.03, for a total value of $16,595,231.37. Following the completion of the transaction, the chief executive officer owned 12,505,965 shares of the company’s stock, valued at approximately $800,756,938.95. The trade was a 2.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 366,000 shares of company stock valued at $23,469,816. Corporate insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on MP shares. Wedbush raised their target price on MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley raised their target price on MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday. DA Davidson restated a “buy” rating and set a $82.00 target price on shares of MP Materials in a research report on Wednesday, March 11th. TD Securities upgraded MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MP Materials currently has an average rating of “Buy” and an average price target of $81.00.

MP Materials Company Profile

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.