KADENSA CAPITAL Ltd Purchases New Position in MP Materials Corp. $MP

KADENSA CAPITAL Ltd purchased a new position in MP Materials Corp. (NYSE:MP) in the 3rd quarter, HoldingsChannel reports. The firm purchased 245,279 shares of the company’s stock, valued at approximately $16,451,000. MP Materials comprises approximately 1.7% of KADENSA CAPITAL Ltd’s portfolio, making the stock its 23rd largest holding.

Several other large investors also recently added to or reduced their stakes in the stock. Caxton Associates LLP purchased a new stake in MP Materials during the second quarter valued at approximately $132,238,000. National Bank of Canada FI boosted its holdings in shares of MP Materials by 19,314.3% in the 2nd quarter. National Bank of Canada FI now owns 2,013,462 shares of the company’s stock worth $66,987,000 after purchasing an additional 2,003,091 shares during the period. Reaves W H & Co. Inc. boosted its holdings in shares of MP Materials by 168.4% in the 3rd quarter. Reaves W H & Co. Inc. now owns 2,589,908 shares of the company’s stock worth $173,705,000 after purchasing an additional 1,624,908 shares during the period. BNP Paribas Financial Markets increased its position in shares of MP Materials by 76.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock valued at $97,200,000 after purchasing an additional 1,264,243 shares during the last quarter. Finally, Amundi increased its position in shares of MP Materials by 1,320.8% during the 3rd quarter. Amundi now owns 954,317 shares of the company’s stock valued at $70,934,000 after purchasing an additional 887,148 shares during the last quarter. 52.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $68.50 to $71.00 in a research report on Friday, December 5th. 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 on the stock. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of MP Materials in a report on Wednesday, March 11th. Finally, William Blair reaffirmed an “outperform” rating on shares of MP Materials in a research note on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $78.91.

MP Materials Stock Down 4.7%

Shares of NYSE MP opened at $57.19 on Monday. 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 $10.14 billion, a price-to-earnings ratio of -109.98 and a beta of 1.55. The stock has a 50 day moving average price of $61.65 and a 200 day moving average price of $63.36. MP Materials Corp. has a 52-week low of $18.64 and a 52-week high of $100.25.

Insider Buying and Selling

In other MP Materials news, CEO James H. Litinsky sold 272,600 shares of MP Materials stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the completion of the sale, the chief executive officer directly owned 12,805,965 shares of the company’s stock, valued at $821,758,774.05. The trade was 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 owned by insiders.

MP Materials 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.