Strengthening Families & Communities LLC Lowers Holdings in MP Materials Corp. $MP

Strengthening Families & Communities LLC lowered its stake in shares of MP Materials Corp. (NYSE:MP) by 68.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,328 shares of the company’s stock after selling 5,152 shares during the period. Strengthening Families & Communities LLC’s holdings in MP Materials were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MP. Driehaus Capital Management LLC purchased a new stake in MP Materials during the first quarter worth $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MP Materials by 429.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company’s stock worth $37,839,000 after buying an additional 1,257,282 shares during the period. Vanguard Group Inc. lifted its holdings in MP Materials by 7.4% during the first quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock worth $333,503,000 after buying an additional 942,105 shares during the period. BNP Paribas Financial Markets lifted its holdings in MP Materials by 73.7% during the first quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company’s stock worth $40,455,000 after buying an additional 703,042 shares during the period. Finally, Invesco Ltd. lifted its holdings in MP Materials by 25.3% during the first quarter. Invesco Ltd. now owns 2,655,102 shares of the company’s stock worth $64,811,000 after buying an additional 536,522 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of MP opened at $78.59 on Friday. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $84.92. The stock has a fifty day moving average price of $69.91 and a 200-day moving average price of $44.98. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. The firm has a market cap of $13.92 billion, a PE ratio of -124.75 and a beta of 2.32.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The firm had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. During the same quarter in the prior year, the business posted ($0.17) EPS. The business’s revenue for the quarter was up 83.6% compared to the same quarter last year. Equities research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer directly owned 1,284,409 shares of the company’s stock, valued at $92,503,136.18. This represents a 10.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Daiwa America upgraded MP Materials to a “strong-buy” rating in a report on Monday, September 22nd. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. BMO Capital Markets started coverage on MP Materials in a report on Thursday. They set a “market perform” rating and a $76.00 price objective for the company. Cowen reiterated a “buy” rating on shares of MP Materials in a report on Friday, August 8th. Finally, Morgan Stanley set a $69.00 price objective on MP Materials in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, MP Materials has an average rating of “Moderate Buy” and an average price target of $74.00.

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.