Daiwa Securities Group Inc. Acquires 139,472 Shares of MP Materials Corp. $MP

Daiwa Securities Group Inc. increased its holdings in shares of MP Materials Corp. (NYSE:MP) by 146.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,407 shares of the company’s stock after purchasing an additional 139,472 shares during the period. Daiwa Securities Group Inc.’s holdings in MP Materials were worth $11,842,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of MP Materials during the 4th quarter valued at about $26,000. REAP Financial Group LLC bought a new position in shares of MP Materials during the 4th quarter valued at about $26,000. Financial Consulate Inc. lifted its holdings in shares of MP Materials by 555.3% during the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock valued at $28,000 after purchasing an additional 472 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of MP Materials by 75.9% during the 3rd quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock valued at $43,000 after purchasing an additional 277 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in shares of MP Materials by 106.2% during the 3rd quarter. Montag A & Associates Inc. now owns 635 shares of the company’s stock valued at $43,000 after purchasing an additional 327 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MP. Barclays started coverage on MP Materials in a report on Thursday, May 21st. They set an “overweight” rating and a $69.00 price objective on the stock. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of MP Materials in a research note on Tuesday, May 12th. Finally, William Blair restated an “outperform” rating on shares of MP Materials in a research note on Wednesday, March 4th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $80.14.

Insider Activity at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 259,179 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $64.03, for a total transaction of $16,595,231.37. Following the transaction, the chief executive officer owned 12,505,965 shares of the company’s stock, valued at $800,756,938.95. The trade was a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Corbett sold 46,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $60.00, for a total value of $2,760,000.00. Following the transaction, the chief financial officer directly owned 129,017 shares in the company, valued at $7,741,020. This trade represents a 26.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,251,167 shares of company stock worth $82,131,654 in the last ninety days. Insiders own 8.20% of the company’s stock.

MP Materials Trading Down 9.6%

NYSE MP opened at $59.20 on Friday. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of -140.96 and a beta of 1.86. The stock’s 50 day moving average price is $60.78 and its two-hundred day moving average price is $59.75. 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 Corp. has a 52 week low of $23.26 and a 52 week high of $100.25.

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