Leonteq Securities AG Invests $2.45 Million in MP Materials Corp. $MP

Leonteq Securities AG acquired a new position in shares of MP Materials Corp. (NYSE:MP) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 48,515 shares of the company’s stock, valued at approximately $2,451,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new stake in MP Materials in the 3rd quarter worth $670,000. Private Advisory Group LLC purchased a new position in MP Materials in the 4th quarter valued at $9,702,000. Pier 88 Investment Partners LLC purchased a new position in shares of MP Materials during the 3rd quarter worth $1,089,000. Polianta Ltd purchased a new position in shares of MP Materials during the 4th quarter worth $1,227,000. Finally, Retirement Systems of Alabama purchased a new position in shares of MP Materials during the 3rd quarter worth $10,915,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of MP Materials stock opened at $56.29 on Thursday. MP Materials Corp. has a one year low of $18.64 and a one year high of $100.25. The company has a market cap of $10.02 billion, a PE ratio of -134.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18. The business has a 50-day simple moving average of $58.62 and a 200-day simple moving average of $59.14.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The business had revenue of $90.65 million during the quarter, compared to the consensus estimate of $74.82 million. During the same period in the previous year, the company posted ($0.12) earnings per share. The business’s revenue for the quarter was up 49.1% on a year-over-year basis. On average, equities research analysts forecast that MP Materials Corp. will post 0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MP. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Wedbush boosted their price objective on MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Morgan Stanley boosted their price objective on MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. TD Securities raised MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of MP Materials in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $81.00.

Insider Activity at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal purchased 17,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $56.62 per share, with a total value of $962,540.00. Following the completion of the acquisition, the chief operating officer directly owned 1,333,673 shares of the company’s stock, valued at $75,512,565.26. This trade represents a 1.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 46,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $60.00, for a total value of $2,760,000.00. Following the completion of the transaction, the chief financial officer directly owned 129,017 shares of the company’s stock, valued at $7,741,020. This trade represents a 26.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 666,000 shares of company stock valued at $43,103,382 over the last three months. 8.20% of the stock is owned by corporate insiders.

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.