Savvy Advisors Inc. Acquires New Shares in MP Materials Corp. $MP

Savvy Advisors Inc. bought a new position in shares of MP Materials Corp. (NYSE:MP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 31,048 shares of the company’s stock, valued at approximately $1,569,000.

Other large investors have also bought and sold shares of the company. Sound Income Strategies LLC raised its position in MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 294 shares during the last quarter. Grove Bank & Trust bought a new position in MP Materials during the 3rd quarter worth $34,000. SJS Investment Consulting Inc. raised its position in MP Materials by 4,600.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock worth $38,000 after purchasing an additional 552 shares during the last quarter. Hilltop National Bank raised its position in MP Materials by 500.0% during the 3rd quarter. Hilltop National Bank now owns 600 shares of the company’s stock worth $40,000 after purchasing an additional 500 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in MP Materials by 75.9% during the 3rd quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock worth $43,000 after purchasing an additional 277 shares during the last quarter. 52.55% of the stock is owned by institutional investors.

MP Materials Stock Performance

MP stock opened at $51.22 on Tuesday. The stock has a 50-day moving average price of $57.56 and a 200-day moving average price of $61.77. MP Materials Corp. has a 1-year low of $18.64 and a 1-year high of $100.25. 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 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 quarterly earnings data on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.07. MP Materials had a negative return on equity of 4.28% and a negative net margin of 38.26%.The firm had revenue of $52.69 million during the quarter, compared to analyst estimates of $76.06 million. During the same period last year, the company posted ($0.12) EPS. The business’s quarterly revenue was down 13.6% on a year-over-year basis. As a group, equities research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

MP has been the subject of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. TD Securities raised MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, January 22nd. Finally, DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of MP Materials in a research report on Wednesday, March 11th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, MP Materials currently has a consensus rating of “Buy” and an average price target of $78.91.

Insider Activity

In other news, CEO James H. Litinsky sold 272,600 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $64.17, for a total value of $17,492,742.00. Following the completion of the sale, the chief executive officer directly owned 12,805,965 shares in the company, valued at $821,758,774.05. This trade represents a 2.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ryan Corbett sold 46,000 shares of the firm’s 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 completion of the sale, the chief financial officer owned 129,017 shares of the company’s stock, valued at approximately $7,741,020. This represents a 26.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 346,000 shares of company stock valued at $22,006,616. 9.50% of the stock is currently owned by company insiders.

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.