Havemeyer Place LP Makes New $1.34 Million Investment in MP Materials Corp. $MP

Havemeyer Place LP purchased a new stake in shares of MP Materials Corp. (NYSE:MP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 26,560 shares of the company’s stock, valued at approximately $1,342,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of MP Materials in the 4th quarter worth approximately $26,000. REAP Financial Group LLC bought a new position in shares of MP Materials during the 4th quarter valued at $26,000. Financial Consulate Inc. lifted its holdings in shares of MP Materials by 555.3% during the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock valued at $28,000 after buying an additional 472 shares during the period. Bessemer Group Inc. lifted its holdings in shares of MP Materials by 75.9% during the 3rd quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock valued at $43,000 after buying an additional 277 shares during the period. Finally, Montag A & Associates Inc. lifted its holdings 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 valued at $43,000 after buying an additional 327 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on MP shares. Canaccord Genuity Group set a $82.00 price objective on MP Materials in a research note on Friday, May 8th. TD Securities upgraded MP Materials to a “strong-buy” rating in a research note on Monday, February 9th. Morgan Stanley raised their price objective on MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Barclays assumed coverage on MP Materials in a research report on Thursday, May 21st. They set an “overweight” rating and a $69.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, MP Materials currently has an average rating of “Buy” and a consensus price target of $80.14.

Insider Activity

In related news, COO Michael Stuart Rosenthal purchased 17,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $56.62 per share, with a total value of $962,540.00. Following the completion of the purchase, the chief operating officer owned 1,333,673 shares of the company’s stock, valued at approximately $75,512,565.26. The trade was a 1.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ryan Corbett sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief financial officer directly owned 109,017 shares of the company’s stock, valued at $8,176,275. This trade represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,251,167 shares of company stock valued at $82,131,654. Corporate insiders own 8.20% of the company’s stock.

MP Materials Stock Performance

MP Materials stock opened at $59.20 on Monday. The company has a 50 day moving average price of $60.78 and a 200-day moving average price of $59.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18. MP Materials Corp. has a fifty-two week low of $23.26 and a fifty-two week high of $100.25. The company has a market capitalization of $10.54 billion, a PE ratio of -140.96 and a beta of 1.86.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating 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 firm had revenue of $90.65 million during the quarter, compared to the consensus estimate of $74.82 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. The company’s revenue was up 49.1% on a year-over-year basis. As a group, equities analysts forecast that MP Materials Corp. will post -0.04 earnings per share for the current year.

About MP Materials

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.