MP Materials Corp. $MP Shares Sold by Bryce Point Capital LLC

Bryce Point Capital LLC lowered its stake in shares of MP Materials Corp. (NYSE:MP) by 62.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,725 shares of the company’s stock after selling 14,262 shares during the quarter. Bryce Point Capital LLC’s holdings in MP Materials were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MP. Calamos Advisors LLC bought a new stake in shares of MP Materials in the 3rd quarter worth approximately $16,726,000. Rockefeller Capital Management L.P. grew its stake in MP Materials by 132.7% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 176,984 shares of the company’s stock worth $5,888,000 after buying an additional 100,915 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in MP Materials in the third quarter worth $670,000. Concurrent Investment Advisors LLC bought a new stake in MP Materials in the third quarter valued at $550,000. Finally, Pier 88 Investment Partners LLC acquired a new position in shares of MP Materials during the third quarter valued at $1,089,000. Institutional investors own 52.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MP. Morgan Stanley upgraded shares of MP Materials from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $68.50 to $71.00 in a research report on Friday, December 5th. Bank of America lifted their price target on MP Materials from $78.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. TD Securities raised MP Materials to a “strong-buy” rating in a report on Monday. BMO Capital Markets raised MP Materials from a “market perform” rating to an “outperform” rating and cut their target price for the company from $76.00 to $75.00 in a research note on Monday, November 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $78.91.

Insider Activity

In related news, CEO James H. Litinsky sold 385,000 shares of MP Materials stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $62.94, for a total transaction of $24,231,900.00. Following the transaction, the chief executive officer directly owned 13,105,965 shares of the company’s stock, valued at $824,889,437.10. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ryan Corbett sold 38,146 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the completion of the sale, the chief financial officer owned 156,666 shares in the company, valued at approximately $9,399,960. This trade represents a 19.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 991,557 shares of company stock valued at $62,785,202 in the last ninety days. Company insiders own 12.60% of the company’s stock.

MP Materials Stock Performance

Shares of NYSE MP opened at $62.83 on Tuesday. MP Materials Corp. has a 1 year low of $18.64 and a 1 year high of $100.25. The firm has a market cap of $11.14 billion, a P/E ratio of -88.49 and a beta of 1.60. The stock has a fifty day moving average price of $59.89 and a two-hundred day moving average price of $64.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 7.51 and a current ratio of 8.05.

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.