MP Materials Corp. $MP Shares Purchased by Ameliora Wealth Management Ltd.

Ameliora Wealth Management Ltd. boosted its position in MP Materials Corp. (NYSE:MP) by 200.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,500 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Ameliora Wealth Management Ltd.’s holdings in MP Materials were worth $50,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Tcfg Wealth Management LLC raised its holdings in MP Materials by 106.7% during the second quarter. Tcfg Wealth Management LLC now owns 18,015 shares of the company’s stock worth $599,000 after purchasing an additional 9,300 shares in the last quarter. Chung Wu Investment Group LLC acquired a new stake in MP Materials during the second quarter worth approximately $136,000. Valeo Financial Advisors LLC acquired a new stake in MP Materials during the second quarter worth approximately $14,998,000. Knights of Columbus Asset Advisors LLC raised its holdings in MP Materials by 47.3% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 38,622 shares of the company’s stock worth $1,285,000 after purchasing an additional 12,401 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its holdings in MP Materials by 3.7% during the second quarter. DAVENPORT & Co LLC now owns 25,474 shares of the company’s stock worth $848,000 after purchasing an additional 899 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insiders Place Their Bets

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the transaction, the chief operating officer directly owned 1,284,409 shares in the company, valued at $92,503,136.18. This trade represents a 10.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.60% of the stock is currently owned by company insiders.

MP Materials Stock Performance

Shares of MP Materials stock opened at $74.57 on Tuesday. The firm’s fifty day simple moving average is $68.93 and its 200-day simple moving average is $43.92. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of -118.37 and a beta of 2.32. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $82.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $57.39 million for the quarter, compared to analysts’ expectations of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company’s quarterly revenue was up 83.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) EPS. As a group, equities analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MP. Daiwa America raised shares of MP Materials to a “strong-buy” rating in a report on Monday, September 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a report on Saturday, September 27th. Jefferies Financial Group raised shares of MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Friday, August 1st. Benchmark reissued a “buy” rating on shares of MP Materials in a report on Friday, August 29th. Finally, Cfra Research raised shares of MP Materials to a “moderate buy” rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, MP Materials has an average rating of “Moderate Buy” and a consensus price target of $68.33.

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.