Dorsey Wright & Associates Has $1.86 Million Stake in MP Materials Corp. $MP

Dorsey Wright & Associates trimmed its position in shares of MP Materials Corp. (NYSE:MP) by 68.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,834 shares of the company’s stock after selling 81,418 shares during the period. Dorsey Wright & Associates’ holdings in MP Materials were worth $1,861,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of MP Materials during the fourth quarter valued at $26,000. REAP Financial Group LLC acquired a new stake in MP Materials during the 4th quarter worth about $26,000. Los Angeles Capital Management LLC acquired a new stake in MP Materials during the 4th quarter worth about $28,000. Financial Consulate Inc. boosted its position in MP Materials by 555.3% during the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares during the period. Finally, Montag A & Associates Inc. grew its stake in MP Materials by 106.2% during the 3rd quarter. Montag A & Associates Inc. now owns 635 shares of the company’s stock valued at $43,000 after acquiring an additional 327 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MP Materials

In related news, COO Michael Stuart Rosenthal acquired 10,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was bought at an average cost of $54.30 per share, with a total value of $543,000.00. Following the completion of the acquisition, the chief operating officer owned 136,622 shares in the company, valued at $7,418,574.60. The trade was a 7.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ryan Corbett sold 20,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief financial officer owned 109,017 shares in the company, valued at $8,176,275. This represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,205,167 shares of company stock worth $79,371,654 over the last three months. Company insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

MP has been the topic of a number of research reports. William Blair reiterated an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. Barclays started coverage on shares of MP Materials in a report on Thursday, May 21st. They set an “overweight” rating and a $69.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of MP Materials in a research note on Tuesday, May 12th. Finally, Morgan Stanley increased their target price on shares of MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $80.14.

MP Materials Trading Down 0.0%

MP stock opened at $60.83 on Friday. MP Materials Corp. has a 1-year low of $29.58 and a 1-year high of $100.25. The firm has a market cap of $10.83 billion, a P/E ratio of -144.83 and a beta of 1.86. The business’s 50 day moving average is $62.22 and its 200-day moving average is $59.66. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $90.65 million during the quarter, compared to analysts’ expectations of $74.82 million. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.MP Materials’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) EPS. Equities analysts anticipate that MP Materials Corp. will post -0.04 earnings per share for the current fiscal year.

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.