WIM INVESTMENT MANAGEMENT Ltd Buys New Shares in MP Materials Corp. $MP

WIM INVESTMENT MANAGEMENT Ltd purchased a new position in shares of MP Materials Corp. (NYSE:MP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 71,700 shares of the company’s stock, valued at approximately $2,385,000. MP Materials accounts for 0.8% of WIM INVESTMENT MANAGEMENT Ltd’s investment portfolio, making the stock its 13th biggest position.

A number of other hedge funds also recently bought and sold shares of the stock. Driehaus Capital Management LLC acquired a new position in shares of MP Materials during the first quarter worth about $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in MP Materials by 429.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company’s stock worth $37,839,000 after acquiring an additional 1,257,282 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of MP Materials by 7.4% during the first quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock worth $333,503,000 after purchasing an additional 942,105 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of MP Materials by 73.7% during the 1st quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company’s stock worth $40,455,000 after acquiring an additional 703,042 shares in the last quarter. Finally, Invesco Ltd. increased its stake in MP Materials by 25.3% in the first quarter. Invesco Ltd. now owns 2,655,102 shares of the company’s stock valued at $64,811,000 after purchasing an additional 536,522 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Trading Up 12.8%

NYSE:MP opened at $58.59 on Friday. MP Materials Corp. has a 12-month low of $15.56 and a 12-month high of $100.25. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $69.71 and its 200-day simple moving average is $51.52. The firm has a market cap of $10.38 billion, a P/E ratio of -82.52 and a beta of 2.26.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.05. The firm had revenue of $53.55 million during the quarter, compared to the consensus estimate of $49.72 million. MP Materials had a negative return on equity of 9.42% and a negative net margin of 50.55%.The company’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period last year, the company earned ($0.12) earnings per share. Equities analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Canaccord Genuity Group boosted their target price on MP Materials from $64.00 to $77.00 and gave the company a “buy” rating in a report on Friday, August 8th. Morgan Stanley set a $69.00 price objective on MP Materials in a research note on Wednesday, October 8th. Cfra Research raised MP Materials to a “moderate buy” rating in a report on Monday, August 11th. Cowen restated a “buy” rating on shares of MP Materials in a research report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of MP Materials from $20.00 to $69.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.80.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer owned 1,284,409 shares of the company’s stock, valued at $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.50% of the stock is currently owned by insiders.

MP Materials Company 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.