Tcfg Wealth Management LLC Sells 21,685 Shares of MP Materials Corp. $MP

Tcfg Wealth Management LLC lessened its holdings in shares of MP Materials Corp. (NYSE:MP) by 76.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,805 shares of the company’s stock after selling 21,685 shares during the quarter. Tcfg Wealth Management LLC’s holdings in MP Materials were worth $328,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in MP Materials by 26.5% in the first quarter. Royal Bank of Canada now owns 234,185 shares of the company’s stock worth $5,716,000 after acquiring an additional 49,052 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of MP Materials during the first quarter valued at about $215,000. Integrated Wealth Concepts LLC acquired a new position in shares of MP Materials during the first quarter valued at about $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MP Materials by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock valued at $265,000 after purchasing an additional 479 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of MP Materials by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company’s stock valued at $4,734,000 after purchasing an additional 51,348 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MP. Morgan Stanley boosted 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. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Wedbush lifted their price objective on shares of MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of MP Materials in a report on Tuesday, May 12th. Finally, Barclays began coverage on MP Materials in a research report on Thursday, May 21st. They issued an “overweight” rating and a $69.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $80.14.

Insider Buying and Selling

In related news, COO Michael Stuart Rosenthal purchased 17,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $56.62 per share, with a total value of $962,540.00. Following the transaction, the chief operating officer owned 1,333,673 shares of the company’s stock, valued at approximately $75,512,565.26. This trade represents a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 20,000 shares of the 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 in the company, valued at $8,176,275. This represents a 15.50% decrease in their ownership of the stock. 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 sold a total of 1,205,167 shares of company stock valued at $79,371,654 over the last 90 days. Insiders own 8.20% of the company’s stock.

MP Materials Stock Performance

MP opened at $56.12 on Wednesday. MP Materials Corp. has a 12-month low of $29.58 and a 12-month high of $100.25. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $9.99 billion, a PE ratio of -133.61 and a beta of 1.86. The firm has a 50 day moving average of $62.13 and a two-hundred day moving average of $59.48.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate 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 net margin of 28.00% and a negative return on equity of 2.27%. The business’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.12) EPS. On average, analysts anticipate that MP Materials Corp. will post -0.04 EPS for the current 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.