KADENSA CAPITAL Ltd Makes New Investment in MP Materials Corp. $MP

KADENSA CAPITAL Ltd acquired a new stake in shares of MP Materials Corp. (NYSE:MP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 245,279 shares of the company’s stock, valued at approximately $16,451,000. MP Materials accounts for about 1.7% of KADENSA CAPITAL Ltd’s investment portfolio, making the stock its 23rd largest position. KADENSA CAPITAL Ltd owned 0.14% of MP Materials at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sound Income Strategies LLC increased its stake in MP Materials by 420.0% in the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after buying an additional 294 shares in the last quarter. Grove Bank & Trust purchased a new position in shares of MP Materials in the third quarter valued at about $34,000. SJS Investment Consulting Inc. boosted its stake in shares of MP Materials by 4,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock worth $38,000 after acquiring an additional 552 shares during the period. Hilltop National Bank boosted its stake in shares of MP Materials by 500.0% in the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock worth $40,000 after acquiring an additional 500 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of MP Materials by 75.9% during the third quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock worth $43,000 after purchasing an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 272,600 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the sale, the chief executive officer owned 12,805,965 shares of the company’s stock, valued at $821,758,774.05. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.60% of the company’s stock.

MP Materials Stock Down 4.7%

Shares of MP opened at $57.19 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.24 and a quick ratio of 6.67. The stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of -109.98 and a beta of 1.55. MP Materials Corp. has a 1 year low of $18.64 and a 1 year high of $100.25. The business’s 50 day simple moving average is $61.65 and its 200-day simple moving average is $63.36.

Wall Street Analysts Forecast Growth

MP has been the topic of several recent analyst reports. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a report on Thursday, January 22nd. William Blair reiterated an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. The Goldman Sachs Group started coverage on shares of MP Materials in a report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 target price on the stock. Finally, BMO Capital Markets upgraded shares of MP Materials from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $76.00 to $75.00 in a research report on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $78.91.

MP Materials Company Profile

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.