Tcfg Wealth Management LLC Raises Stock Holdings in MP Materials Corp. $MP

Tcfg Wealth Management LLC increased its stake in shares of MP Materials Corp. (NYSE:MP) by 54.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,800 shares of the company’s stock after purchasing an additional 9,785 shares during the quarter. Tcfg Wealth Management LLC’s holdings in MP Materials were worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC boosted its stake in shares of MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 294 shares during the last quarter. Grove Bank & Trust acquired a new position in shares of MP Materials in the third quarter valued at approximately $34,000. SJS Investment Consulting Inc. lifted its stake in shares of MP Materials by 4,600.0% during the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock valued at $38,000 after buying an additional 552 shares during the period. Hilltop National Bank lifted its stake in shares of MP Materials by 500.0% during the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock valued at $40,000 after buying an additional 500 shares during the period. Finally, Bessemer Group Inc. boosted its position in 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 acquiring an additional 277 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 commented on MP. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. DA Davidson restated a “buy” rating and set a $82.00 price objective on shares of MP Materials in a report on Wednesday, March 11th. Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $68.50 to $71.00 in a report on Friday, December 5th. BMO Capital Markets upgraded MP Materials from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $76.00 to $75.00 in a research note on Monday, November 24th. Finally, TD Securities upgraded MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $78.91.

MP Materials Price Performance

MP Materials stock opened at $59.23 on Wednesday. MP Materials Corp. has a 1 year low of $18.64 and a 1 year high of $100.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.67 and a current ratio of 7.24. The firm has a 50 day moving average price of $61.66 and a 200 day moving average price of $63.18. The company has a market cap of $10.50 billion, a price-to-earnings ratio of -113.89 and a beta of 1.55.

Insiders Place Their Bets

In other news, CEO James H. Litinsky sold 272,600 shares of the business’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 completion of the sale, the chief executive officer directly owned 12,805,965 shares of the company’s stock, valued at $821,758,774.05. The trade was a 2.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ryan Corbett sold 46,000 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $60.00, for a total value of $2,760,000.00. Following the sale, the chief financial officer owned 129,017 shares of the company’s stock, valued at approximately $7,741,020. The trade was a 26.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 346,000 shares of company stock worth $22,006,616. 12.60% of the stock is owned by company insiders.

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.