SG Americas Securities LLC Purchases 47,314 Shares of MP Materials Corp. $MP

SG Americas Securities LLC lifted its holdings in MP Materials Corp. (NYSE:MP) by 27.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 218,200 shares of the company’s stock after purchasing an additional 47,314 shares during the quarter. SG Americas Securities LLC owned 0.12% of MP Materials worth $10,530,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Costello Asset Management INC lifted its position in MP Materials by 15.0% during the fourth quarter. Costello Asset Management INC now owns 1,300 shares of the company’s stock valued at $66,000 after purchasing an additional 170 shares during the last quarter. Composition Wealth LLC increased its holdings in shares of MP Materials by 0.9% in the 4th quarter. Composition Wealth LLC now owns 18,334 shares of the company’s stock worth $926,000 after buying an additional 172 shares during the last quarter. ARS Investment Partners LLC raised its position in shares of MP Materials by 1.0% during the 4th quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock valued at $1,009,000 after buying an additional 200 shares in the last quarter. Cresset Asset Management LLC raised its position in shares of MP Materials by 1.0% during the 2nd quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock valued at $713,000 after buying an additional 204 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its holdings in shares of MP Materials by 1.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 12,232 shares of the company’s stock valued at $618,000 after acquiring an additional 212 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

MP Materials Price Performance

MP stock opened at $53.95 on Friday. The stock has a market cap of $9.60 billion, a PE ratio of -128.44 and a beta of 1.86. MP Materials Corp. has a 12 month low of $29.58 and a 12 month high of $100.25. The company has a 50-day moving average price of $62.38 and a 200 day moving average price of $59.55. 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 (NYSE:MP) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $90.65 million for the quarter, compared to analyst estimates of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The firm’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) EPS. Equities research analysts anticipate that MP Materials Corp. will post -0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of MP Materials in a research note on Tuesday, May 12th. Morgan Stanley lifted 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. Wedbush boosted their target price on MP Materials from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, William Blair reissued 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 given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MP Materials currently has an average rating of “Buy” and a consensus price target of $80.14.

Insider Activity

In other MP Materials news, COO Michael Stuart Rosenthal purchased 17,000 shares of MP Materials stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $56.62 per share, for a total transaction of $962,540.00. Following the completion of the acquisition, the chief operating officer owned 1,333,673 shares in the company, valued at $75,512,565.26. This represents a 1.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 259,179 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $64.03, for a total value of $16,595,231.37. Following the sale, the chief executive officer directly owned 12,505,965 shares of the company’s stock, valued at $800,756,938.95. This represents a 2.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,205,167 shares of company stock valued at $79,371,654. 8.20% of the stock is currently owned by insiders.

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.