J.W. Cole Advisors Inc. Has $7.41 Million Stock Position in MP Materials Corp. $MP

J.W. Cole Advisors Inc. lifted its holdings in shares of MP Materials Corp. (NYSE:MP) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,503 shares of the company’s stock after acquiring an additional 12,669 shares during the period. J.W. Cole Advisors Inc. owned approximately 0.06% of MP Materials worth $7,411,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MP. Sound Income Strategies LLC boosted its stake in MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 294 shares during the last quarter. Spire Wealth Management raised its position in MP Materials by 181.3% in the 2nd quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock valued at $34,000 after buying an additional 651 shares during the last quarter. Grove Bank & Trust purchased a new position in MP Materials during the 3rd quarter worth $34,000. SJS Investment Consulting Inc. grew its stake in shares of MP Materials by 4,600.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock worth $38,000 after acquiring an additional 552 shares in the last quarter. Finally, Hilltop National Bank raised its holdings in shares of MP Materials by 500.0% in the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock valued at $40,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Buying and Selling at MP Materials

In other news, CFO Ryan Corbett sold 38,146 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the completion of the transaction, the chief financial officer owned 156,666 shares of the company’s stock, valued at approximately $9,399,960. The trade was a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James H. Litinsky sold 385,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $62.94, for a total transaction of $24,231,900.00. Following the completion of the transaction, the chief executive officer owned 13,105,965 shares in the company, valued at approximately $824,889,437.10. This trade represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 991,557 shares of company stock worth $62,785,202. Insiders own 9.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Bank of America increased their price objective on shares of MP Materials from $78.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. raised MP Materials from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $75.00 to $74.00 in a report on Friday, November 14th. Wall Street Zen lowered MP Materials from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. BMO Capital Markets raised MP Materials from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $76.00 to $75.00 in a research report on Monday, November 24th. Finally, Morgan Stanley raised MP Materials from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $68.50 to $71.00 in a research report on Friday, December 5th. One equities research analyst has 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 data from MarketBeat, MP Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.91.

MP Materials Price Performance

MP stock opened at $60.69 on Thursday. The firm has a 50 day moving average of $59.89 and a 200-day moving average of $64.96. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $10.76 billion, a P/E ratio of -85.48 and a beta of 1.60. MP Materials Corp. has a 12 month low of $18.64 and a 12 month high of $100.25.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.05. The business had revenue of $53.55 million for the quarter, compared to analysts’ expectations of $49.72 million. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.12) EPS. As a group, sell-side analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

MP Materials 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.