Danske Bank A S Buys 39,177 Shares of MP Materials Corp. $MP

Danske Bank A S raised its stake in MP Materials Corp. (NYSE:MP) by 2,798.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 40,577 shares of the company’s stock after buying an additional 39,177 shares during the quarter. Danske Bank A S’s holdings in MP Materials were worth $2,050,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hancock Prospecting Pty Ltd grew its position in shares of MP Materials by 7.2% in the 3rd quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company’s stock worth $996,741,000 after buying an additional 1,000,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in MP Materials by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 14,479,787 shares of the company’s stock valued at $731,519,000 after acquiring an additional 459,213 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in MP Materials by 76.3% in the second quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock valued at $97,200,000 after acquiring an additional 1,264,243 shares in the last quarter. Reaves W H & Co. Inc. grew its holdings in MP Materials by 168.4% in the third quarter. Reaves W H & Co. Inc. now owns 2,589,908 shares of the company’s stock worth $173,705,000 after purchasing an additional 1,624,908 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of MP Materials by 20.8% during the third quarter. Northern Trust Corp now owns 1,119,058 shares of the company’s stock worth $75,055,000 after purchasing an additional 192,870 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MP shares. DA Davidson reiterated a “buy” rating and set a $82.00 price objective on shares of MP Materials in a report on Wednesday, March 11th. William Blair restated an “outperform” rating on shares of MP Materials in a research note on Wednesday, March 4th. Morgan Stanley decreased their price target on MP Materials from $71.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Wedbush began coverage on MP Materials in a research note on Monday, April 20th. They set an “outperform” rating and a $90.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $79.08.

Insider Activity

In other news, CEO James H. Litinsky sold 259,179 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $64.03, for a total value of $16,595,231.37. Following the completion of the transaction, the chief executive officer directly owned 12,505,965 shares in the company, valued at $800,756,938.95. This trade represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Corbett sold 46,000 shares of MP Materials stock in a transaction dated 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 sale, the chief financial officer directly owned 129,017 shares of the company’s stock, 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. In the last quarter, insiders have sold 346,000 shares of company stock worth $21,969,816. Company insiders own 8.20% of the company’s stock.

MP Materials Trading Up 2.8%

NYSE:MP opened at $68.03 on Wednesday. MP Materials Corp. has a 12 month low of $18.64 and a 12 month high of $100.25. The firm has a fifty day simple moving average of $57.82 and a 200-day simple moving average of $59.81. 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 company has a market capitalization of $12.09 billion, a P/E ratio of -130.82 and a beta of 1.90.

MP Materials (NYSE:MP) last released its earnings results on Thursday, February 26th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. The firm had revenue of $52.69 million for the quarter, compared to the consensus estimate of $76.06 million. MP Materials had a negative return on equity of 4.28% and a negative net margin of 38.26%.The firm’s revenue was down 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) EPS. On average, equities research analysts anticipate that MP Materials Corp. will post 0.1 earnings per share for the current 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.