Phoenix Financial Ltd. Buys New Shares in MP Materials Corp. $MP

Phoenix Financial Ltd. bought a new stake in shares of MP Materials Corp. (NYSE:MP) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 8,880 shares of the company’s stock, valued at approximately $449,000.

Several other large investors have also recently bought and sold shares of MP. Royal Bank of Canada raised its stake in MP Materials by 26.5% during the 1st quarter. Royal Bank of Canada now owns 234,185 shares of the company’s stock valued at $5,716,000 after purchasing an additional 49,052 shares during the last quarter. AQR Capital Management LLC acquired a new position in MP Materials during the 1st quarter valued at $215,000. Integrated Wealth Concepts LLC acquired a new position in MP Materials during the 1st quarter valued at $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake 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 during the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Stock Up 1.7%

Shares of NYSE:MP opened at $61.35 on Friday. MP Materials Corp. has a 12 month low of $18.64 and a 12 month high of $100.25. The company’s 50-day moving average price is $58.81 and its two-hundred day moving average price is $59.37. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47. The firm has a market cap of $10.92 billion, a P/E ratio of -146.07 and a beta of 1.90.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The firm had revenue of $90.65 million for the quarter, compared to analyst estimates of $74.82 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue was up 49.1% on a year-over-year basis. As a group, research analysts forecast that MP Materials Corp. will post 0.1 EPS for the current fiscal year.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 259,179 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $64.03, for a total transaction of $16,595,231.37. Following the transaction, the chief executive officer directly owned 12,505,965 shares in the company, valued at approximately $800,756,938.95. This represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Corbett sold 46,000 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $60.00, for a total transaction of $2,760,000.00. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 666,000 shares of company stock worth $43,103,382. Corporate insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MP shares. Wedbush upped their target price on shares of MP Materials from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. DA Davidson reiterated a “buy” rating and set a $82.00 target price on shares of MP Materials in a research note on Wednesday, March 11th. Canaccord Genuity Group set a $82.00 price objective on shares of MP Materials in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of MP Materials in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research note 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $81.00.

MP Materials News Summary

Here are the key news stories impacting MP Materials this week:

• Positive Sentiment: Analysts remain upbeat on MP Materials after its Q1 results: Morgan Stanley raised its price target to $70 from $62 and kept an Overweight rating, while Deutsche Bank lifted its target to $70 from $65 and reiterated a Buy rating. Article Title
• Positive Sentiment: MP Materials continues to benefit from strong fundamental execution, including a Q1 earnings beat and 49.1% year-over-year revenue growth, which supports the stock’s longer-term rare-earth growth story. Article Title

MP Materials 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.