Texas Yale Capital Corp. Buys Shares of 35,000 MP Materials Corp. $MP

Texas Yale Capital Corp. purchased a new position in shares of MP Materials Corp. (NYSE:MP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,000 shares of the company’s stock, valued at approximately $1,768,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in MP Materials in the 4th quarter valued at approximately $82,531,000. Reaves W H & Co. Inc. boosted its position 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 purchasing an additional 1,624,908 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in MP Materials by 76.3% in the second 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. 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 valued at $996,741,000 after buying an additional 1,000,000 shares in the last quarter. Finally, Amundi increased its position in shares of MP Materials by 1,320.8% in the third quarter. Amundi now owns 954,317 shares of the company’s stock valued at $70,934,000 after buying an additional 887,148 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of MP opened at $64.57 on Monday. MP Materials Corp. has a 1 year low of $19.60 and a 1 year high of $100.25. The company’s 50 day simple moving average is $59.36 and its 200 day simple moving average is $59.49. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of -153.75 and a beta of 1.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18.

MP Materials (NYSE:MP) last released its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. The firm had revenue of $90.65 million during the quarter, compared to analysts’ expectations of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. MP Materials’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.12) EPS. On average, sell-side analysts predict that MP Materials Corp. will post -0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

MP has been the subject of several recent research reports. William Blair restated an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. Canaccord Genuity Group set a $82.00 price target on shares of MP Materials in a report on Friday, May 8th. Wedbush increased their price target on shares of MP Materials from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Barclays initiated coverage on shares of MP Materials in a research note on Thursday, May 21st. They set an “overweight” rating and a $69.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $80.08.

Insider Transactions at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the sale, the chief financial officer directly owned 109,017 shares of the company’s stock, valued at approximately $8,176,275. This trade represents a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James H. Litinsky sold 50,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $64.58, for a total transaction of $3,229,000.00. Following the transaction, the chief executive officer owned 11,805,965 shares in the company, valued at approximately $762,429,219.70. The trade was a 0.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,066,000 shares of company stock worth $69,329,207 over the last quarter. 8.20% of the stock is currently owned by 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.