Rheos Capital Works Inc. Sells 115,000 Shares of MP Materials Corp. $MP

Rheos Capital Works Inc. trimmed its position in shares of MP Materials Corp. (NYSE:MP) by 38.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,000 shares of the company’s stock after selling 115,000 shares during the period. Rheos Capital Works Inc.’s holdings in MP Materials were worth $9,346,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MP. Royal Bank of Canada grew its holdings in MP Materials by 26.5% during the 1st quarter. Royal Bank of Canada now owns 234,185 shares of the company’s stock valued at $5,716,000 after purchasing an additional 49,052 shares during the last quarter. AQR Capital Management LLC purchased a new stake in MP Materials in the 1st quarter valued at about $215,000. Integrated Wealth Concepts LLC purchased a new stake in MP Materials in the 1st quarter valued at about $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in MP Materials by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock valued at $265,000 after buying an additional 479 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in MP Materials by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company’s stock valued at $4,734,000 after buying an additional 51,348 shares during the period. 52.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO James H. Litinsky sold 272,600 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the transaction, the chief executive officer directly owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. This trade represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 46,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 129,017 shares in the company, valued at approximately $7,741,020. This represents a 26.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 346,000 shares of company stock worth $22,006,616. Insiders own 9.50% of the company’s stock.

MP Materials Price Performance

NYSE MP opened at $51.22 on Tuesday. 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’s 50 day moving average price is $57.56 and its 200-day moving average price is $61.77. MP Materials Corp. has a 52-week low of $18.64 and a 52-week high of $100.25. The company has a market cap of $9.10 billion, a PE ratio of -98.50 and a beta of 1.67.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. MP Materials had a negative net margin of 38.26% and a negative return on equity of 4.28%. The firm had revenue of $52.69 million for the quarter, compared to the consensus estimate of $76.06 million. During the same period last year, the firm earned ($0.12) earnings per share. The company’s quarterly revenue was down 13.6% on a year-over-year basis. Sell-side analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MP has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, January 22nd. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. DA Davidson reissued a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a research report on Wednesday, March 11th. TD Securities raised shares of MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Finally, William Blair reissued an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. Two 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 stock. According to MarketBeat, MP Materials presently has an average rating of “Buy” and an average target price of $78.91.

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.