S&CO Inc. Invests $266,000 in MP Materials Corp. $MP

S&CO Inc. bought a new stake in shares of MP Materials Corp. (NYSE:MP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,000 shares of the company’s stock, valued at approximately $266,000.

A number of other hedge funds have also recently bought and sold shares of the company. Ballentine Partners LLC acquired a new stake in MP Materials in the 2nd quarter valued at about $241,000. Strs Ohio bought a new stake in shares of MP Materials in the 1st quarter worth approximately $687,000. Exchange Traded Concepts LLC bought a new stake in shares of MP Materials in the 2nd quarter worth approximately $7,479,000. Cutler Investment Counsel LLC acquired a new stake in MP Materials during the second quarter valued at approximately $287,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in MP Materials during the second quarter worth approximately $491,000. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Trading Up 12.8%

Shares of NYSE:MP opened at $58.59 on Monday. MP Materials Corp. has a 12-month low of $15.56 and a 12-month high of $100.25. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $10.38 billion, a P/E ratio of -82.52 and a beta of 2.26. The firm has a fifty day moving average of $69.71 and a two-hundred day moving average of $51.92.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.05. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The firm had revenue of $53.55 million during the quarter, compared to analysts’ expectations of $49.72 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. On average, equities analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MP. DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of MP Materials in a research report on Friday. Cowen reiterated a “buy” rating on shares of MP Materials in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft upgraded 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 report on Monday. Jefferies Financial Group raised shares of MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Friday, August 1st. Finally, BMO Capital Markets assumed coverage on shares of MP Materials in a report on Thursday, October 9th. They issued a “market perform” rating and a $76.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.00.

Insider Activity

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the completion of the sale, the chief operating officer owned 1,284,409 shares of the company’s stock, valued at approximately $92,503,136.18. The trade was a 10.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.60% of the stock is currently owned by corporate insiders.

MP Materials Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.