XTX Topco Ltd Has $472,000 Position in MP Materials Corp. $MP

XTX Topco Ltd cut its stake in shares of MP Materials Corp. (NYSE:MP) by 42.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,189 shares of the company’s stock after selling 10,440 shares during the period. XTX Topco Ltd’s holdings in MP Materials were worth $472,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of MP Materials by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock valued at $333,503,000 after buying an additional 942,105 shares during the period. Invesco Ltd. increased its stake in shares of MP Materials by 25.3% in the first quarter. Invesco Ltd. now owns 2,655,102 shares of the company’s stock worth $64,811,000 after acquiring an additional 536,522 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of MP Materials by 73.7% during the first 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in MP Materials by 429.3% during 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 valued at $37,839,000 after purchasing an additional 1,257,282 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in MP Materials during the first quarter valued at $34,288,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Activity

In related news, CEO James H. Litinsky sold 248,411 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $63.86, for a total value of $15,863,526.46. Following the transaction, the chief executive officer owned 13,369,665 shares in the company, valued at $853,786,806.90. This trade represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ryan Corbett sold 20,000 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $57.72, for a total value of $1,154,400.00. Following the sale, the chief financial officer directly owned 194,812 shares of the company’s stock, valued at $11,244,548.64. This represents a 9.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Benchmark reiterated a “buy” rating on shares of MP Materials in a research note on Friday, August 29th. The Goldman Sachs Group began coverage on shares of MP Materials in a report on Wednesday, November 19th. They set a “buy” rating and a $77.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research note on Wednesday, October 8th. Cfra Research upgraded shares of MP Materials to a “moderate buy” rating in a report on Monday, August 11th. Finally, Daiwa America upgraded MP Materials to a “strong-buy” rating in a report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MP Materials presently has an average rating of “Moderate Buy” and an average price target of $78.91.

MP Materials Trading Up 5.3%

MP stock opened at $61.85 on Friday. The firm has a market cap of $10.96 billion, a P/E ratio of -87.11 and a beta of 1.69. The business’s 50 day moving average is $66.61 and its 200-day moving average is $56.30. MP Materials Corp. has a 1-year low of $15.56 and a 1-year high of $100.25. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP) last posted its earnings results 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. The company had revenue of $53.55 million during the quarter, compared to analysts’ expectations of $49.72 million. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. MP Materials’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) earnings per share. Equities analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

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.