Mirador Capital Partners LP Grows Stake in MP Materials Corp. (NYSE:MP)

Mirador Capital Partners LP boosted its position in shares of MP Materials Corp. (NYSE:MP) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,354 shares of the company’s stock after acquiring an additional 2,212 shares during the quarter. Mirador Capital Partners LP’s holdings in MP Materials were worth $277,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in shares of MP Materials during the 4th quarter valued at about $26,000. TFO Wealth Partners LLC increased its holdings in MP Materials by 153,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after buying an additional 1,537 shares during the last quarter. CWM LLC raised its position in MP Materials by 85.0% in the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after acquiring an additional 766 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of MP Materials by 2,335.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock worth $41,000 after acquiring an additional 1,985 shares during the last quarter. Finally, Mendota Financial Group LLC grew its position in shares of MP Materials by 46.8% during the 4th quarter. Mendota Financial Group LLC now owns 3,786 shares of the company’s stock valued at $75,000 after acquiring an additional 1,207 shares during the period. Institutional investors own 52.55% of the company’s stock.

Insider Activity

In related news, Director Andrew A. Mcknight sold 317,750 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the sale, the director now owns 86,000 shares of the company’s stock, valued at $1,554,020. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Andrew A. Mcknight sold 317,750 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $18.07, for a total value of $5,741,742.50. Following the completion of the sale, the director now directly owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ryan Corbett sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the transaction, the chief financial officer now directly owns 325,021 shares in the company, valued at approximately $5,502,605.53. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.

MP Materials Stock Performance

Shares of NYSE MP opened at $12.81 on Tuesday. The company has a market cap of $2.12 billion, a P/E ratio of -85.40 and a beta of 2.28. MP Materials Corp. has a 52-week low of $12.09 and a 52-week high of $26.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 9.28 and a current ratio of 10.29. The firm’s fifty day moving average is $15.50 and its two-hundred day moving average is $16.06.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The firm had revenue of $48.68 million during the quarter, compared to the consensus estimate of $46.00 million. MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. As a group, analysts anticipate that MP Materials Corp. will post -0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MP shares. Jefferies Financial Group decreased their target price on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Canaccord Genuity Group decreased their target price on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of MP Materials in a research report on Tuesday, May 14th. Finally, Morgan Stanley cut their price target on MP Materials from $15.50 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.50.

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.