TB Alternative Assets Ltd. Has $9.09 Million Holdings in MP Materials Corp. $MP

TB Alternative Assets Ltd. grew its position in MP Materials Corp. (NYSE:MP) by 2,398.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 179,886 shares of the company’s stock after acquiring an additional 172,686 shares during the period. MP Materials accounts for approximately 1.5% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 16th biggest position. TB Alternative Assets Ltd. owned 0.10% of MP Materials worth $9,088,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hancock Prospecting Pty Ltd increased its position in MP Materials by 7.2% during the 3rd quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company’s stock valued at $996,741,000 after purchasing an additional 1,000,000 shares during the period. Vanguard Group Inc. grew its stake in shares of MP Materials by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,020,574 shares of the company’s stock valued at $940,360,000 after buying an additional 363,975 shares during the period. Caxton Associates LLP acquired a new stake in shares of MP Materials in the 2nd quarter valued at about $132,238,000. Invesco Ltd. increased its position in MP Materials by 14.3% in the 2nd quarter. Invesco Ltd. now owns 3,033,612 shares of the company’s stock valued at $100,928,000 after buying an additional 378,510 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in MP Materials by 76.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock worth $97,200,000 after buying an additional 1,264,243 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Price Performance

Shares of NYSE MP opened at $48.31 on Thursday. The company has a market capitalization of $8.58 billion, a PE ratio of -92.91 and a beta of 1.55. The company has a quick ratio of 6.67, a current ratio of 7.24 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $58.58 and its 200-day moving average price is $62.18. MP Materials Corp. has a twelve month low of $18.64 and a twelve month high of $100.25.

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

Insiders Place Their Bets

In related news, CFO Ryan Corbett sold 46,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 129,017 shares of the company’s stock, valued at approximately $7,741,020. The trade was a 26.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James H. Litinsky sold 272,600 shares of the stock in a transaction dated 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 owned 12,805,965 shares of the company’s stock, valued at approximately $821,758,774.05. The trade was a 2.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 346,000 shares of company stock worth $22,006,616 over the last quarter. Company insiders own 9.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on MP shares. Morgan Stanley raised MP Materials from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $68.50 to $71.00 in a research note on Friday, December 5th. TD Securities upgraded shares of MP Materials to a “strong-buy” rating in a research note on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a report on Thursday, January 22nd. DA Davidson reiterated a “buy” rating and set a $82.00 price objective on shares of MP Materials in a report on Wednesday, March 11th. Finally, Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target 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.