Rheos Capital Works Inc. Decreases Stock Position in MP Materials Corp. $MP

Rheos Capital Works Inc. lowered its stake in MP Materials Corp. (NYSE:MP) by 38.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,000 shares of the company’s stock after selling 115,000 shares during the quarter. Rheos Capital Works Inc. owned about 0.10% of MP Materials worth $9,346,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Wolff Wiese Magana LLC lifted its stake in MP Materials by 28.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 806 shares of the company’s stock worth $54,000 after purchasing an additional 177 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in MP Materials by 1.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 18,162 shares of the company’s stock worth $1,218,000 after purchasing an additional 188 shares in the last quarter. Wedmont Private Capital lifted its stake in MP Materials by 1.7% in the 3rd quarter. Wedmont Private Capital now owns 11,824 shares of the company’s stock worth $872,000 after purchasing an additional 195 shares in the last quarter. IMG Wealth Management Inc. lifted its stake in MP Materials by 4.7% in the 3rd quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock worth $298,000 after purchasing an additional 200 shares in the last quarter. Finally, Rothschild Investment LLC lifted its stake in MP Materials by 4.0% in the 3rd quarter. Rothschild Investment LLC now owns 5,252 shares of the company’s stock worth $352,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on MP shares. DA Davidson reiterated a “buy” rating and issued a $82.00 price target on shares of MP Materials in a research note on Wednesday, March 11th. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. TD Securities upgraded shares of MP Materials to a “strong-buy” rating in a report on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a report on Thursday, January 22nd. Finally, William Blair restated an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, MP Materials presently has a consensus rating of “Buy” and a consensus target price of $78.91.

Insider Activity

In related news, CEO James H. Litinsky sold 272,600 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. This represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 46,000 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $60.00, for a total transaction of $2,760,000.00. Following the transaction, the chief financial officer owned 129,017 shares in the company, valued at $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. Insiders have sold a total of 346,000 shares of company stock worth $22,006,616 over the last quarter. 9.50% of the stock is currently owned by insiders.

MP Materials Stock Performance

MP Materials stock opened at $51.22 on Tuesday. The company’s 50-day moving average price is $57.56 and its 200-day moving average price is $61.77. MP Materials Corp. has a twelve month low of $18.64 and a twelve month high of $100.25. The company has a quick ratio of 6.67, a current ratio of 7.24 and a debt-to-equity ratio of 0.47. The company has a market cap of $9.10 billion, a PE ratio of -98.50 and a beta of 1.67.

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

About MP Materials

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.