Maryland State Retirement & Pension System Sells 792 Shares of MP Materials Corp. $MP

Maryland State Retirement & Pension System lessened its stake in shares of MP Materials Corp. (NYSE:MP) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,407 shares of the company’s stock after selling 792 shares during the period. Maryland State Retirement & Pension System’s holdings in MP Materials were worth $1,378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of MP Materials by 2.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company’s stock worth $412,000 after buying an additional 358 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in MP Materials by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock worth $265,000 after acquiring an additional 479 shares during the last quarter. CWM LLC increased its stake in MP Materials by 16.5% in the 1st quarter. CWM LLC now owns 3,566 shares of the company’s stock worth $87,000 after acquiring an additional 505 shares during the last quarter. AdvisorNet Financial Inc grew its holdings 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 in the last quarter. Finally, Harbor Investment Advisory LLC grew its holdings in shares of MP Materials by 51.0% in the second quarter. Harbor Investment Advisory LLC now owns 1,510 shares of the company’s stock valued at $50,000 after purchasing an additional 510 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

Insider Buying and Selling

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer directly owned 1,284,409 shares in the company, valued at $92,503,136.18. This trade represents a 10.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 9.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MP shares. Robert W. Baird increased their price objective on shares of MP Materials from $52.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Benchmark restated a “buy” rating on shares of MP Materials in a research report on Friday, August 29th. DA Davidson boosted their price objective on MP Materials from $32.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on MP Materials from $20.00 to $69.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, MP Materials currently has an average rating of “Moderate Buy” and a consensus price target of $74.00.

MP Materials Trading Up 8.7%

NYSE MP opened at $78.59 on Friday. The company’s 50-day moving average price is $69.91 and its 200-day moving average price is $45.11. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. The stock has a market cap of $13.92 billion, a PE ratio of -124.75 and a beta of 2.32. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $84.92.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $44.84 million. During the same period in the previous year, the company earned ($0.17) EPS. The firm’s quarterly revenue was up 83.6% on a year-over-year basis. Equities research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

About MP Materials

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.