Diversify Advisory Services LLC Acquires New Position in MP Materials Corp. $MP

Diversify Advisory Services LLC acquired a new stake in MP Materials Corp. (NYSE:MP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 27,479 shares of the company’s stock, valued at approximately $1,843,000.

A number of other institutional investors have also bought and sold shares of the business. Sound Income Strategies LLC boosted its holdings in shares of MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 294 shares during the last quarter. Grove Bank & Trust purchased a new position in MP Materials during the third quarter worth approximately $34,000. SJS Investment Consulting Inc. lifted its position in MP Materials by 4,600.0% during the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock worth $38,000 after buying an additional 552 shares in the last quarter. Hilltop National Bank lifted its position in MP Materials by 500.0% during the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock worth $40,000 after buying an additional 500 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in MP Materials by 75.9% during the third quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock worth $43,000 after buying an additional 277 shares in the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MP shares. BMO Capital Markets upgraded MP Materials from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $76.00 to $75.00 in a report on Monday, November 24th. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday. TD Securities raised shares of MP Materials to a “strong-buy” rating in a report on Monday, February 9th. The Goldman Sachs Group initiated coverage on shares of MP Materials in a research report on Wednesday, November 19th. They set a “buy” rating and a $77.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $78.91.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 272,600 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $64.17, for a total value of $17,492,742.00. Following the transaction, the chief executive officer owned 12,805,965 shares of the company’s stock, valued at $821,758,774.05. This represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.60% of the stock is currently owned by company insiders.

MP Materials Trading Up 3.6%

Shares of MP Materials stock opened at $60.35 on Tuesday. The stock has a 50 day moving average of $60.96 and a 200 day moving average of $63.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.67 and a current ratio of 7.24. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of -116.06 and a beta of 1.55. MP Materials Corp. has a fifty-two week low of $18.64 and a fifty-two week high of $100.25.

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.