Reaves W H & Co. Inc. Purchases 19,618 Shares of MP Materials Corp. $MP

Reaves W H & Co. Inc. grew its position in MP Materials Corp. (NYSE:MP) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,609,526 shares of the company’s stock after acquiring an additional 19,618 shares during the period. MP Materials comprises about 2.3% of Reaves W H & Co. Inc.’s portfolio, making the stock its 16th largest holding. Reaves W H & Co. Inc.’s holdings in MP Materials were worth $131,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of MP Materials during the 4th quarter worth about $26,000. Financial Consulate Inc. lifted its stake in shares of MP Materials by 555.3% during the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock worth $28,000 after buying an additional 472 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of MP Materials by 75.9% during the 3rd quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock worth $43,000 after buying an additional 277 shares during the last quarter. Montag A & Associates Inc. lifted its stake in shares of MP Materials by 106.2% during the 3rd quarter. Montag A & Associates Inc. now owns 635 shares of the company’s stock worth $43,000 after buying an additional 327 shares during the last quarter. Finally, Bogart Wealth LLC acquired a new stake in shares of MP Materials during the 4th quarter worth about $47,000. Institutional investors own 52.55% of the company’s stock.

MP Materials Price Performance

Shares of MP Materials stock opened at $64.57 on Monday. MP Materials Corp. has a twelve month low of $19.60 and a twelve month high of $100.25. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $59.36 and a two-hundred day simple moving average of $59.49. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of -153.75 and a beta of 1.86.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. 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 previous year, the company earned ($0.12) EPS. The business’s revenue was up 49.1% on a year-over-year basis. Analysts forecast that MP Materials Corp. will post -0.04 EPS for the current year.

Insiders Place Their Bets

In other MP Materials news, COO Michael Stuart Rosenthal acquired 17,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $56.62 per share, for a total transaction of $962,540.00. Following the purchase, the chief operating officer directly owned 1,333,673 shares of the company’s stock, valued at $75,512,565.26. This trade represents a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 50,000 shares of MP Materials stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $64.58, for a total transaction of $3,229,000.00. Following the completion of the sale, the chief executive officer owned 11,805,965 shares of the company’s stock, valued at $762,429,219.70. This trade represents a 0.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,066,000 shares of company stock worth $69,329,207 in the last quarter. 8.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MP shares. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of MP Materials in a research note on Tuesday, May 12th. Canaccord Genuity Group set a $82.00 target price on shares of MP Materials in a research note on Friday, May 8th. Morgan Stanley raised their target price on shares of MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, Wedbush raised their target price on shares of MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MP Materials presently has a consensus rating of “Buy” and a consensus price target of $80.08.

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.