New Mexico Educational Retirement Board Acquires New Holdings in MP Materials Corp. $MP

New Mexico Educational Retirement Board bought a new stake in MP Materials Corp. (NYSE:MP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,400 shares of the company’s stock, valued at approximately $1,838,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Calamos Advisors LLC acquired a new stake in shares of MP Materials during the 3rd quarter valued at $16,726,000. Rockefeller Capital Management L.P. increased its holdings in MP Materials by 132.7% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 176,984 shares of the company’s stock worth $5,888,000 after purchasing an additional 100,915 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in MP Materials in the third quarter valued at about $670,000. Concurrent Investment Advisors LLC bought a new position in MP Materials in the third quarter valued at about $550,000. Finally, Pier 88 Investment Partners LLC acquired a new stake in shares of MP Materials during the third quarter valued at about $1,089,000. Institutional investors own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MP shares. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. William Blair reiterated an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. TD Securities upgraded shares of MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Morgan Stanley raised shares of MP Materials from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $68.50 to $71.00 in a research note on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $78.91.

MP Materials Stock Performance

Shares of MP stock opened at $50.63 on Friday. The company has a current ratio of 7.24, a quick ratio of 6.67 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $61.17 and a two-hundred day simple moving average of $62.92. MP Materials Corp. has a 12 month low of $18.64 and a 12 month high of $100.25. The firm has a market capitalization of $8.97 billion, a PE ratio of -97.36 and a beta of 1.55.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. The firm had revenue of $52.69 million for the quarter, compared to analyst estimates of $76.06 million. MP Materials had a negative net margin of 38.26% and a negative return on equity of 4.28%. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) earnings per share. Analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 272,600 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $64.17, for a total value of $17,492,742.00. Following the transaction, the chief executive officer owned 12,805,965 shares of the company’s stock, valued at approximately $821,758,774.05. This trade represents a 2.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 46,000 shares of MP Materials stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $60.00, for a total value of $2,760,000.00. Following the transaction, the chief financial officer owned 129,017 shares of the company’s stock, valued at $7,741,020. This trade represents a 26.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 346,000 shares of company stock worth $22,006,616 in the last 90 days. 9.50% of the stock is currently 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.