Cladis Investment Advisory LLC Lowers Holdings in MP Materials Corp. $MP

Cladis Investment Advisory LLC lowered its position in MP Materials Corp. (NYSE:MP) by 85.5% during the 3rd quarter, Holdings Channel reports. The firm owned 5,500 shares of the company’s stock after selling 32,540 shares during the quarter. Cladis Investment Advisory LLC’s holdings in MP Materials were worth $369,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MP. Sound Income Strategies LLC lifted its holdings in shares of 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 during the period. Grove Bank & Trust purchased a new position in shares of MP Materials during the third quarter valued at $34,000. SJS Investment Consulting Inc. increased 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 raised its holdings in shares of MP Materials by 500.0% in the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock valued at $40,000 after acquiring an additional 500 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in MP Materials by 75.9% in 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 period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. William Blair reiterated an “outperform” rating on shares of MP Materials in a report on Wednesday. TD Securities upgraded shares of MP Materials to a “strong-buy” rating in a report on Monday, February 9th. The Goldman Sachs Group began coverage on shares of MP Materials in a research report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 price target for the company. Morgan Stanley raised shares of MP Materials from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $68.50 to $71.00 in a report on Friday, December 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of MP Materials from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $71.00 in a research note on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $78.91.

MP Materials Price Performance

MP opened at $58.26 on Friday. The business’s 50-day moving average is $60.79 and its two-hundred day moving average is $63.73. 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 current ratio of 7.24 and a quick ratio of 6.67. The firm has a market capitalization of $10.33 billion, a PE ratio of -112.04 and a beta of 1.55.

Insider Transactions at MP Materials

In other 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 sale, the chief executive officer directly owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. This trade represents a 2.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 38,146 shares of MP Materials stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the completion of the transaction, the chief financial officer directly owned 156,666 shares in the company, valued at approximately $9,399,960. The trade was a 19.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 338,146 shares of company stock worth $21,535,376 over the last 90 days. Company insiders own 9.50% of the company’s stock.

MP Materials 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.