MP Materials Corp. $MP Holdings Lessened by Private Advisory Group LLC

Private Advisory Group LLC lessened its stake in MP Materials Corp. (NYSE:MP) by 35.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 146,676 shares of the company’s stock after selling 81,412 shares during the quarter. Private Advisory Group LLC owned approximately 0.08% of MP Materials worth $6,936,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Toth Financial Advisory Corp grew its stake in MP Materials by 73.3% during the second quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares in the last quarter. Wedmont Private Capital increased its holdings in MP Materials by 2.0% in the 3rd quarter. Wedmont Private Capital now owns 11,866 shares of the company’s stock valued at $547,000 after acquiring an additional 234 shares during the last quarter. Allworth Financial LP increased its holdings in MP Materials by 4.5% in the 2nd quarter. Allworth Financial LP now owns 5,679 shares of the company’s stock valued at $318,000 after acquiring an additional 243 shares during the last quarter. NFSG Corp lifted its stake in MP Materials by 5.0% in the 1st quarter. NFSG Corp now owns 5,387 shares of the company’s stock worth $260,000 after purchasing an additional 255 shares in the last quarter. Finally, Putney Financial Group LLC lifted its stake in MP Materials by 4.4% in the 3rd quarter. Putney Financial Group LLC now owns 6,123 shares of the company’s stock worth $290,000 after purchasing an additional 257 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

Trending Headlines about MP Materials

Here are a few of the latest headlines about MP:

• Positive Sentiment: Three insiders—including the CFO, COO and a director—bought more than $3.35 million of MP shares. The purchases may signal confidence, and came after the company began shipping saleable magnets to General Motors. MP Materials Stock Rises After Insiders Buy $3.35 Million
• Negative Sentiment: Commentary cautions that MP’s valuation may already reflect much of its growth prospects, while rising costs could weigh on profitability. Its shares have also underperformed over the year. MP Materials Q3 Beat and Valuation
• Negative Sentiment: Potential congressional review of the government’s $400 million equity stake and related support adds policy uncertainty around the company. Federal Stake Draws Scrutiny

Insiders Place Their Bets

In related news, CFO Ryan Corbett acquired 5,476 shares of the stock in a transaction dated Tuesday, November 10th. The stock was acquired at an average cost of $36.25 per share, with a total value of $198,505.00. Following the purchase, the chief financial officer directly owned 114,493 shares of the company’s stock, valued at approximately $4,150,371.25. This trade represents a 5.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Randall J. Weisenburger acquired 55,000 shares of the stock in a transaction dated Tuesday, November 10th. The stock was bought at an average cost of $36.00 per share, with a total value of $1,980,000.00. Following the completion of the purchase, the director directly owned 205,899 shares in the company, valued at approximately $7,412,364. The trade was a 36.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 92,476 shares of company stock valued at $3,353,475 over the last ninety days. 8.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Barclays cut their price objective on MP Materials from $65.00 to $54.00 and set an “overweight” rating for the company in a research report on Monday. Freedom Broker raised MP Materials from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on MP Materials from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of MP Materials in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.50.

MP Materials Stock Performance

MP Materials stock opened at $37.49 on Friday. The company’s 50-day moving average price is $44.22 and its 200-day moving average price is $53.85. The company has a quick ratio of 6.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.48. The company has a market cap of $6.68 billion, a PE ratio of -170.39 and a beta of 2.05. MP Materials Corp. has a twelve month low of $31.90 and a twelve month high of $76.80.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $147.66 million during the quarter, compared to the consensus estimate of $117.37 million. MP Materials had a negative net margin of 9.90% and a negative return on equity of 0.05%. The firm’s revenue for the quarter was up 175.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) EPS. On average, equities research analysts forecast that MP Materials Corp. will post -0.21 EPS for the current fiscal year.

About MP Materials

MP Materials operates the Mountain Pass rare earth mine and processing facility in California. The site is a major North American source of rare earth materials, which are used in products such as electric vehicles, wind turbines, electronics and defense systems. The company mines and processes rare earth ore into concentrate and separated products, including neodymium-praseodymium (NdPr), a key input for high-strength permanent magnets. MP Materials is also developing domestic magnet manufacturing capabilities to extend its business further along the supply chain.