JT Stratford LLC Has $2.88 Million Holdings in MP Materials Corp. $MP

JT Stratford LLC raised its holdings in shares of MP Materials Corp. (NYSE:MP) by 40.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,457 shares of the company’s stock after acquiring an additional 24,916 shares during the quarter. JT Stratford LLC’s holdings in MP Materials were worth $2,876,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its holdings in shares of MP Materials by 12.6% during the first quarter. Envestnet Asset Management Inc. now owns 23,254 shares of the company’s stock worth $568,000 after purchasing an additional 2,604 shares during the period. Cetera Investment Advisers increased its stake in MP Materials by 193.1% in the 1st quarter. Cetera Investment Advisers now owns 123,455 shares of the company’s stock valued at $3,014,000 after buying an additional 81,337 shares during the period. LPL Financial LLC boosted its stake in shares of MP Materials by 5.0% during the 1st quarter. LPL Financial LLC now owns 132,796 shares of the company’s stock valued at $3,242,000 after buying an additional 6,361 shares during the period. XTX Topco Ltd purchased a new position in shares of MP Materials during the 1st quarter valued at $601,000. Finally, Natixis Advisors LLC purchased a new position in shares of MP Materials during the 1st quarter valued at $386,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Stock Up 4.7%

Shares of MP Materials stock opened at $60.84 on Wednesday. MP Materials Corp. has a 12-month low of $15.56 and a 12-month high of $100.25. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $67.16 and a two-hundred day moving average price of $56.24. The stock has a market capitalization of $10.78 billion, a P/E ratio of -85.69 and a beta of 1.69.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.05. The business had revenue of $53.55 million during the quarter, compared to the consensus estimate of $49.72 million. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. MP Materials’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) EPS. Equities analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

MP has been the subject of a number of research reports. The Goldman Sachs Group began coverage on MP Materials in a research report on Wednesday, November 19th. They set a “buy” rating and a $77.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded MP Materials from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $71.00 in a report on Monday, November 10th. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $75.00 to $74.00 in a report on Friday, November 14th. Cfra Research raised shares of MP Materials to a “moderate buy” rating in a research report on Monday, August 11th. Finally, Daiwa America raised shares of MP Materials to a “strong-buy” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $78.73.

Insider Activity

In other news, CFO Ryan Corbett sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $57.72, for a total transaction of $1,154,400.00. Following the completion of the transaction, the chief financial officer directly owned 194,812 shares in the company, valued at $11,244,548.64. The trade was a 9.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James H. Litinsky sold 248,411 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $63.86, for a total value of $15,863,526.46. Following the completion of the sale, the chief executive officer directly owned 13,369,665 shares of the company’s stock, valued at $853,786,806.90. This represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 12.60% of the company’s stock.

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.