Tcfg Wealth Management LLC Has $599,000 Stock Position in MP Materials Corp. $MP

Tcfg Wealth Management LLC lifted its position in MP Materials Corp. (NYSE:MP) by 106.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,015 shares of the company’s stock after acquiring an additional 9,300 shares during the period. Tcfg Wealth Management LLC’s holdings in MP Materials were worth $599,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in MP Materials by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock worth $333,503,000 after purchasing an additional 942,105 shares during the period. Invesco Ltd. lifted its holdings in shares of MP Materials by 25.3% in the first quarter. Invesco Ltd. now owns 2,655,102 shares of the company’s stock valued at $64,811,000 after purchasing an additional 536,522 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of MP Materials by 73.7% in the first quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company’s stock worth $40,455,000 after buying an additional 703,042 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of MP Materials by 429.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company’s stock valued at $37,839,000 after buying an additional 1,257,282 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in MP Materials during the first quarter valued at $34,288,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Insider Buying and Selling at MP Materials

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the completion of the sale, the chief operating officer owned 1,284,409 shares of the company’s stock, valued at approximately $92,503,136.18. The trade was a 10.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.60% of the company’s stock.

MP Materials Trading Up 4.3%

Shares of NYSE MP opened at $74.57 on Tuesday. The business has a 50 day simple moving average of $68.93 and a 200 day simple moving average of $43.92. MP Materials Corp. has a 52 week low of $15.56 and a 52 week high of $82.50. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of -118.37 and a beta of 2.32. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Daiwa America upgraded MP Materials to a “strong-buy” rating in a research report on Monday, September 22nd. Robert W. Baird raised their price target on shares of MP Materials from $52.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. Canaccord Genuity Group boosted their price objective on shares of MP Materials from $64.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research note on Saturday, September 27th. Finally, Jefferies Financial Group raised shares of MP Materials from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.33.

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.