Guardian Partners Inc. Has $721,000 Stock Position in MP Materials Corp. $MP

Guardian Partners Inc. reduced its holdings in MP Materials Corp. (NYSE:MP) by 57.5% in the first quarter, HoldingsChannel reports. The firm owned 14,901 shares of the company’s stock after selling 20,199 shares during the period. Guardian Partners Inc.’s holdings in MP Materials were worth $721,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC boosted its holdings in shares of MP Materials by 15.0% during the 4th quarter. Costello Asset Management INC now owns 1,300 shares of the company’s stock worth $66,000 after buying an additional 170 shares in the last quarter. Composition Wealth LLC increased its stake in shares of MP Materials by 0.9% in the 4th quarter. Composition Wealth LLC now owns 18,334 shares of the company’s stock valued at $926,000 after acquiring an additional 172 shares in the last quarter. ARS Investment Partners LLC increased its stake in shares of MP Materials by 1.0% in the 4th quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock valued at $1,009,000 after acquiring an additional 200 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of MP Materials by 1.0% during the 2nd quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock valued at $713,000 after acquiring an additional 204 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its position in shares of MP Materials by 1.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 12,232 shares of the company’s stock valued at $618,000 after acquiring an additional 212 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Needham & Company LLC reduced their price target on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Barclays dropped their price objective on shares of MP Materials from $69.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Canaccord Genuity Group set a $82.00 price objective on shares of MP Materials in a research report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research note on Friday, July 17th. Finally, Citigroup reaffirmed a “positive” rating on shares of MP Materials in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, MP Materials has an average rating of “Buy” and a consensus target price of $79.42.

MP Materials Stock Performance

NYSE MP opened at $41.28 on Wednesday. The company has a market cap of $7.35 billion, a P/E ratio of -98.30 and a beta of 1.86. The company has a fifty day simple moving average of $55.79 and a 200 day simple moving average of $58.63. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 12-month low of $39.91 and a 12-month high of $100.25.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $74.82 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The business’s revenue was up 49.1% on a year-over-year basis. Sell-side analysts predict that MP Materials Corp. will post 0.05 earnings per share for the current fiscal year.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 185,167 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $69.14, for a total value of $12,802,446.38. Following the sale, the chief executive officer owned 11,620,798 shares in the company, valued at $803,461,973.72. This represents a 1.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ryan Corbett sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief financial officer directly owned 109,017 shares in the company, valued at approximately $8,176,275. The trade was a 15.50% 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. Insiders sold a total of 905,167 shares of company stock valued at $60,161,837 over the last three months. Corporate insiders own 8.20% of the company’s stock.

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.