Tcfg Wealth Management LLC Trims Stake in MP Materials Corp. $MP

Tcfg Wealth Management LLC lessened its position in MP Materials Corp. (NYSE:MP) by 76.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,805 shares of the company’s stock after selling 21,685 shares during the quarter. Tcfg Wealth Management LLC’s holdings in MP Materials were worth $328,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. EMC Capital Management purchased a new stake in MP Materials in the 4th quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of MP Materials during the fourth quarter valued at approximately $26,000. REAP Financial Group LLC bought a new position in shares of MP Materials during the fourth quarter valued at approximately $26,000. Financial Consulate Inc. grew its stake in shares of MP Materials by 555.3% during the fourth quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock valued at $28,000 after buying an additional 472 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of MP Materials during the fourth quarter valued at approximately $28,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of MP Materials in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Barclays started coverage on MP Materials in a research note on Thursday, May 21st. They issued an “overweight” rating and a $69.00 target price on the stock. DA Davidson reiterated a “buy” rating and set a $82.00 target price on shares of MP Materials in a research report on Friday, June 5th. Finally, Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, MP Materials currently has a consensus rating of “Buy” and an average price target of $80.14.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 20,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the sale, the chief financial officer owned 109,017 shares of the company’s stock, valued at approximately $8,176,275. This trade represents a 15.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James H. Litinsky sold 185,167 shares of MP Materials stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $69.14, for a total value of $12,802,446.38. Following the completion of the transaction, the chief executive officer owned 11,620,798 shares in the company, valued at $803,461,973.72. This represents a 1.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,205,167 shares of company stock worth $79,371,654 over the last 90 days. Company insiders own 8.20% of the company’s stock.

MP Materials Trading Up 2.5%

NYSE:MP opened at $56.12 on Wednesday. The firm has a 50-day simple moving average of $62.13 and a 200-day simple moving average of $59.48. MP Materials Corp. has a one year low of $29.58 and a one year high of $100.25. The firm has a market cap of $9.99 billion, a P/E ratio of -133.61 and a beta of 1.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $90.65 million for the quarter, compared to the consensus estimate of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The company’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period last year, the firm earned ($0.12) earnings per share. Equities analysts anticipate that MP Materials Corp. will post -0.04 EPS for the current fiscal year.

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.