Gotham Asset Management LLC Acquires 38,155 Shares of MP Materials Corp. $MP

Gotham Asset Management LLC boosted its holdings in shares of MP Materials Corp. (NYSE:MP) by 7.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 570,917 shares of the company’s stock after purchasing an additional 38,155 shares during the period. Gotham Asset Management LLC’s holdings in MP Materials were worth $13,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in MP Materials by 52.3% during the first quarter. GAMMA Investing LLC now owns 5,750 shares of the company’s stock worth $140,000 after acquiring an additional 1,975 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in MP Materials by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,093,057 shares of the company’s stock worth $26,682,000 after acquiring an additional 13,389 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in MP Materials during the first quarter worth about $213,000. LPL Financial LLC lifted its holdings in MP Materials by 5.0% during the first quarter. LPL Financial LLC now owns 132,796 shares of the company’s stock worth $3,242,000 after acquiring an additional 6,361 shares in the last quarter. Finally, Illinois Municipal Retirement Fund bought a new position in MP Materials during the first quarter worth about $1,460,000. 52.55% of the stock is currently owned by institutional investors.

MP Materials Price Performance

NYSE:MP opened at $62.95 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. The stock’s 50-day simple moving average is $60.07 and its 200 day simple moving average is $37.36. The company has a market cap of $11.15 billion, a P/E ratio of -99.92 and a beta of 2.32. MP Materials Corp. has a 52-week low of $13.20 and a 52-week high of $82.50.

MP Materials (NYSE:MP) last released its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (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 the consensus estimate of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.MP Materials’s quarterly revenue was up 83.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) earnings per share. As a group, sell-side analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MP has been the topic of a number of research reports. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Benchmark restated a “buy” rating on shares of MP Materials in a report on Friday, August 29th. Morgan Stanley set a $65.00 price target on MP Materials and gave the company an “equal weight” rating in a report on Thursday, July 31st. Jefferies Financial Group upgraded MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Friday, August 1st. Finally, Cfra Research upgraded MP Materials to a “moderate buy” rating in a report on Monday, August 11th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.88.

Insider Activity

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer owned 1,284,409 shares of the company’s stock, valued at approximately $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.50% of the company’s stock.

MP Materials Company 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.