Tandem Financial LLC Purchases Shares of 44,774 MP Materials Corp. (NYSE:MP)

Tandem Financial LLC acquired a new stake in MP Materials Corp. (NYSE:MP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 44,774 shares of the company’s stock, valued at approximately $698,000. MP Materials accounts for approximately 0.7% of Tandem Financial LLC’s portfolio, making the stock its 28th biggest holding.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in MP Materials by 136.0% in the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after acquiring an additional 1,285 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after purchasing an additional 1,849 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after purchasing an additional 2,200 shares in the last quarter. Signaturefd LLC boosted its stake in shares of MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after purchasing an additional 3,262 shares in the last quarter. Finally, KBC Group NV increased its position in shares of MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after buying an additional 1,246 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

MP stock opened at $24.08 on Friday. The business has a 50 day moving average of $19.66 and a 200 day moving average of $17.10. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $24.80. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The company had revenue of $62.93 million for the quarter, compared to the consensus estimate of $45.30 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. During the same quarter in the previous year, the business earned $0.02 earnings per share. Analysts predict that MP Materials Corp. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on MP shares. JPMorgan Chase & Co. raised their price objective on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. BMO Capital Markets raised their target price on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Finally, Canaccord Genuity Group upped their price target on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

Insider Activity at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 15,195 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.30, for a total transaction of $278,068.50. Following the sale, the chief financial officer now directly owns 295,021 shares in the company, valued at approximately $5,398,884.30. This trade represents a 4.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.45, for a total value of $5,535,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,221,776 shares of the company’s stock, valued at approximately $336,191,767.20. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,271,085 shares of company stock valued at $26,757,696. 12.60% of the stock is owned by insiders.

About MP Materials

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.