MP Materials Corp. $MP Shares Acquired by Tcfg Wealth Management LLC

Tcfg Wealth Management LLC lifted its position in shares of MP Materials Corp. (NYSE:MP) by 54.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 27,800 shares of the company’s stock after purchasing an additional 9,785 shares during the quarter. Tcfg Wealth Management LLC’s holdings in MP Materials were worth $1,865,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Caxton Associates LLP purchased a new position in MP Materials in the second quarter valued at approximately $132,238,000. National Bank of Canada FI lifted its position in MP Materials by 19,314.3% during the second quarter. National Bank of Canada FI now owns 2,013,462 shares of the company’s stock valued at $66,987,000 after buying an additional 2,003,091 shares in the last quarter. Reaves W H & Co. Inc. grew its stake in MP Materials by 168.4% during the third quarter. Reaves W H & Co. Inc. now owns 2,589,908 shares of the company’s stock worth $173,705,000 after buying an additional 1,624,908 shares during the period. BNP Paribas Financial Markets grew its stake in MP Materials by 76.3% during the second quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock worth $97,200,000 after buying an additional 1,264,243 shares during the period. Finally, Hancock Prospecting Pty Ltd increased its position in shares of MP Materials by 7.2% in the third quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company’s stock worth $996,741,000 after acquiring an additional 1,000,000 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Trading Down 0.2%

MP opened at $59.23 on Wednesday. The firm’s 50 day moving average is $61.66 and its 200-day moving average is $63.18. MP Materials Corp. has a 52-week low of $18.64 and a 52-week high of $100.25. The company has a quick ratio of 6.67, a current ratio of 7.24 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $10.50 billion, a P/E ratio of -113.89 and a beta of 1.55.

Insiders Place Their Bets

In related news, CFO Ryan Corbett sold 46,000 shares of MP Materials stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $60.00, for a total transaction of $2,760,000.00. Following the sale, the chief financial officer owned 129,017 shares of the company’s stock, valued at $7,741,020. The trade was a 26.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief executive officer directly owned 12,805,965 shares in the company, valued at $821,758,774.05. This trade represents a 2.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 346,000 shares of company stock valued at $22,006,616. Company insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on MP shares. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research note on Thursday, January 22nd. TD Securities upgraded MP Materials to a “strong-buy” rating in a report on Monday, February 9th. The Goldman Sachs Group began coverage on MP Materials in a research report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 price objective on the stock. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Morgan Stanley raised MP Materials from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $68.50 to $71.00 in a research report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, MP Materials has a consensus rating of “Buy” and a consensus price target of $78.91.

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.