MP Materials Corp. $MP Shares Sold by MGO One Seven LLC

MGO One Seven LLC lowered its holdings in shares of MP Materials Corp. (NYSE:MP) by 24.8% in the second quarter, Holdings Channel reports. The firm owned 10,138 shares of the company’s stock after selling 3,346 shares during the quarter. MGO One Seven LLC’s holdings in MP Materials were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of MP Materials by 2.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company’s stock worth $412,000 after acquiring an additional 358 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of MP Materials by 3.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,400 shares of the company’s stock worth $413,000 after acquiring an additional 458 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 worth $265,000 after acquiring an additional 479 shares during the period. CWM LLC lifted its stake in shares of MP Materials by 14.1% in the 2nd quarter. CWM LLC now owns 4,070 shares of the company’s stock worth $135,000 after acquiring an additional 504 shares during the period. Finally, AdvisorNet Financial Inc lifted its stake in shares of MP Materials by 168.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after acquiring an additional 506 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of MP Materials from $18.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Canaccord Genuity Group raised their target price on shares of MP Materials from $64.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Morgan Stanley set a $69.00 target price on shares of MP Materials in a research note on Wednesday, October 8th. DA Davidson raised their target price on shares of MP Materials from $32.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Finally, Daiwa America upgraded shares of MP Materials to a “strong-buy” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.80.

Insider Activity at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at $92,503,136.18. This represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.60% of the stock is owned by corporate insiders.

MP Materials Stock Down 3.9%

Shares of NYSE MP opened at $80.55 on Monday. The company has a quick ratio of 3.12, a current ratio of 3.60 and a debt-to-equity ratio of 0.83. MP Materials Corp. has a 52 week low of $15.56 and a 52 week high of $100.25. The firm has a 50-day moving average price of $71.94 and a 200 day moving average price of $47.50. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of -127.86 and a beta of 2.32.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The firm had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $44.84 million. During the same quarter last year, the business earned ($0.17) earnings per share. The business’s revenue for the quarter was up 83.6% compared to the same quarter last year. Equities research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

MP Materials Company Profile

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.