SBI Okasan Asset Management Co.Ltd. Purchases Shares of 31,910 MP Materials Corp. $MP

SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of MP Materials Corp. (NYSE:MP) during the 4th quarter, HoldingsChannel reports. The firm purchased 31,910 shares of the company’s stock, valued at approximately $1,657,000.

Several other large investors have also added to or reduced their stakes in the company. Hancock Prospecting Pty Ltd grew its stake in MP Materials by 7.2% during the 3rd quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company’s stock valued at $996,741,000 after purchasing an additional 1,000,000 shares during the last quarter. Vanguard Group Inc. grew its stake in MP Materials by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 14,479,787 shares of the company’s stock valued at $731,519,000 after purchasing an additional 459,213 shares during the last quarter. BNP Paribas Financial Markets grew its stake in MP Materials by 76.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock valued at $97,200,000 after purchasing an additional 1,264,243 shares during the last quarter. Reaves W H & Co. Inc. grew its stake in MP Materials by 168.4% during the 3rd quarter. Reaves W H & Co. Inc. now owns 2,589,908 shares of the company’s stock valued at $173,705,000 after purchasing an additional 1,624,908 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of MP Materials by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 2,544,743 shares of the company’s stock worth $128,587,000 after buying an additional 197,375 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal bought 17,000 shares of MP Materials stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $56.62 per share, with a total value of $962,540.00. Following the completion of the acquisition, the chief operating officer directly owned 1,333,673 shares of the company’s stock, valued at $75,512,565.26. The trade was a 1.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James H. Litinsky sold 259,179 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $64.03, for a total value of $16,595,231.37. Following the transaction, the chief executive officer directly owned 12,505,965 shares of the company’s stock, valued at $800,756,938.95. The trade was a 2.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 666,000 shares of company stock valued at $43,103,382 over the last quarter. 8.20% of the stock is currently owned by insiders.

MP Materials Stock Performance

Shares of MP stock opened at $66.79 on Friday. The company has a market capitalization of $11.89 billion, a P/E ratio of -159.03 and a beta of 1.90. The business’s 50 day moving average is $59.22 and its two-hundred day moving average is $59.48. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 12-month low of $19.60 and a 12-month high of $100.25.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The business had revenue of $90.65 million during the quarter, compared to analysts’ expectations of $74.82 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The business’s revenue was up 49.1% compared to the same quarter last year. Analysts expect that MP Materials Corp. will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MP has been the topic of several analyst reports. TD Securities raised MP Materials to a “strong-buy” rating in a report on Monday, February 9th. William Blair reaffirmed an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. Wedbush raised their target price on MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Morgan Stanley raised their target price on MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Barclays assumed coverage on MP Materials in a research report on Thursday, May 21st. They set an “overweight” rating and a $69.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $80.08.

MP Materials Company 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.