81,412 MP Materials Corp. $MP Shares Sold by Private Advisory Group LLC

Private Advisory Group LLC lessened its position in MP Materials Corp. (NYSE:MP) by 35.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,676 shares of the company’s stock after selling 81,412 shares during the quarter. Private Advisory Group LLC’s holdings in MP Materials were worth $6,936,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in MP Materials by 147.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 74,265 shares of the company’s stock valued at $3,512,000 after purchasing an additional 44,218 shares during the last quarter. Maryland State Retirement & Pension System purchased a new stake in MP Materials in the 3rd quarter worth about $360,000. Jacobi Capital Management LLC purchased a new stake in MP Materials in the 3rd quarter worth about $68,000. Philadelphia Trust Co. purchased a new stake in MP Materials in the 3rd quarter worth about $328,000. Finally, Moneco Advisors LLC lifted its stake in MP Materials by 2.7% in the third quarter. Moneco Advisors LLC now owns 15,481 shares of the company’s stock worth $732,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

Insider Buying and Selling at MP Materials

In related news, COO Michael Rosenthal bought 5,000 shares of the company’s stock in a transaction on Wednesday, November 11th. The shares were acquired at an average cost of $37.30 per share, for a total transaction of $186,500.00. Following the purchase, the chief operating officer directly owned 1,365,673 shares of the company’s stock, valued at approximately $50,939,602.90. The trade was a 0.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ryan Corbett bought 5,476 shares of MP Materials stock in a transaction dated Tuesday, November 10th. The shares were bought at an average cost of $36.25 per share, for a total transaction of $198,505.00. Following the completion of the transaction, the chief financial officer owned 114,493 shares of the company’s stock, valued at approximately $4,150,371.25. This trade represents a 5.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 92,476 shares of company stock valued at $3,353,475 in the last three months. Company insiders own 8.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MP. Needham & Company LLC dropped their target price on MP Materials from $81.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a research note on Saturday, November 7th. Jefferies Financial Group reiterated a “buy” rating on shares of MP Materials in a report on Tuesday, September 8th. Morgan Stanley reduced their price target on MP Materials from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, October 7th. Finally, Barclays decreased their price target on MP Materials from $65.00 to $54.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, MP Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.50.

Key Headlines Impacting MP Materials

These are some of the MP headlines that stood out recently:

• Positive Sentiment: Recent third-quarter results beat estimates, supported by higher neodymium-praseodymium sales and pricing. The company has also reported progress on customer agreements with GM, Apple and U.S. defense customers. MP Gains 2% After Q3 Earnings Beat
• Negative Sentiment: Commentary cautions that MP’s valuation may already reflect much of its growth prospects, while rising costs could weigh on profitability. Its shares have also underperformed over the year. MP Materials Q3 Beat and Valuation
• Negative Sentiment: Potential congressional review of the government’s $400 million equity stake and related support adds policy uncertainty around the company. Federal Stake Draws Scrutiny

MP Materials Stock Up 2.1%

Shares of MP opened at $37.49 on Friday. The firm has a market capitalization of $6.68 billion, a P/E ratio of -170.39 and a beta of 2.05. MP Materials Corp. has a 12-month low of $31.90 and a 12-month high of $76.80. The company has a current ratio of 6.75, a quick ratio of 6.04 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $44.22 and a 200-day moving average price of $53.85.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $147.66 million for the quarter, compared to analysts’ expectations of $117.37 million. MP Materials had a negative net margin of 9.90% and a negative return on equity of 0.05%. The business’s revenue for the quarter was up 175.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share. Equities research analysts expect that MP Materials Corp. will post -0.21 earnings per share for the current year.

MP Materials Company Profile

MP Materials operates the Mountain Pass rare earth mine and processing facility in California. The site is a major North American source of rare earth materials, which are used in products such as electric vehicles, wind turbines, electronics and defense systems. The company mines and processes rare earth ore into concentrate and separated products, including neodymium-praseodymium (NdPr), a key input for high-strength permanent magnets. MP Materials is also developing domestic magnet manufacturing capabilities to extend its business further along the supply chain.