MP Materials Corp. $MP Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. reduced its stake in shares of MP Materials Corp. (NYSE:MP) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 97,834 shares of the company’s stock after selling 3,980 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in MP Materials were worth $3,255,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Highline Wealth Partners LLC acquired a new stake in MP Materials in the second quarter valued at approximately $25,000. AdvisorNet Financial Inc boosted its stake in shares of MP Materials by 168.7% in the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock valued at $27,000 after purchasing an additional 506 shares during the period. MAI Capital Management grew its holdings in MP Materials by 132.7% during the 1st quarter. MAI Capital Management now owns 1,403 shares of the company’s stock valued at $34,000 after purchasing an additional 800 shares in the last quarter. Spire Wealth Management increased its stake in MP Materials by 181.3% during the 2nd quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock worth $34,000 after buying an additional 651 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in MP Materials during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Trading Up 3.4%

NYSE:MP opened at $60.17 on Thursday. MP Materials Corp. has a 52 week low of $15.56 and a 52 week high of $100.25. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.66 billion, a PE ratio of -84.75 and a beta of 2.26. The business’s 50 day moving average is $68.20 and its two-hundred day moving average is $54.90.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.05. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The business had revenue of $53.55 million for the quarter, compared to analyst estimates of $49.72 million. During the same period in the prior year, the company posted ($0.12) EPS. The business’s revenue was down 14.9% compared to the same quarter last year. On average, analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Insiders Place Their Bets

In other MP Materials news, CEO James H. Litinsky sold 248,411 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $63.86, for a total transaction of $15,863,526.46. Following the sale, the chief executive officer directly owned 13,369,665 shares of the company’s stock, valued at approximately $853,786,806.90. This represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Stuart Rosenthal sold 150,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the completion of the transaction, the chief operating officer owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 418,411 shares of company stock valued at $27,820,926. Company insiders own 9.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets upgraded MP Materials from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $76.00 to $75.00 in a research note on Monday. JPMorgan Chase & Co. raised MP Materials from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $75.00 to $74.00 in a report on Friday, November 14th. Bank of America lifted their price objective on MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Benchmark reiterated a “buy” rating on shares of MP Materials in a research note on Friday, August 29th. Finally, Daiwa America raised shares of MP Materials to a “strong-buy” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.73.

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.