MP Materials Corp. (NYSE:MP) Shares Sold by Xponance Inc.

Xponance Inc. trimmed its stake in shares of MP Materials Corp. (NYSE:MP) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,298 shares of the company’s stock after selling 1,427 shares during the quarter. Xponance Inc.’s holdings in MP Materials were worth $182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of Montreal Can lifted its holdings in MP Materials by 188.1% in the 2nd quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock valued at $11,462,000 after acquiring an additional 586,906 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of MP Materials by 8.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 16,207 shares of the company’s stock valued at $206,000 after acquiring an additional 1,228 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of MP Materials during the 2nd quarter worth about $155,000. Ensign Peak Advisors Inc grew its position in MP Materials by 3.8% in the second quarter. Ensign Peak Advisors Inc now owns 60,708 shares of the company’s stock worth $773,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in MP Materials by 2.7% in the second quarter. Westwood Holdings Group Inc. now owns 83,861 shares of the company’s stock worth $1,068,000 after purchasing an additional 2,240 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MP has been the topic of a number of research analyst reports. Canaccord Genuity Group lowered their target price on shares of MP Materials from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. DA Davidson increased their price target on shares of MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of MP Materials in a research note on Friday, August 2nd. Morgan Stanley lifted their price objective on MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. reduced their price objective on MP Materials from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.85.

Insider Buying and Selling

In related news, COO Michael Stuart Rosenthal purchased 30,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $10.84 per share, for a total transaction of $325,200.00. Following the completion of the purchase, the chief operating officer now directly owns 1,402,975 shares in the company, valued at $15,208,249. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.60% of the stock is currently owned by corporate insiders.

MP Materials Stock Down 3.3 %

Shares of NYSE:MP opened at $16.96 on Thursday. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $20.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 6.17 and a current ratio of 6.90. The company has a market capitalization of $2.80 billion, a PE ratio of -113.03 and a beta of 2.23. The company has a 50 day moving average price of $13.45 and a two-hundred day moving average price of $14.61.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.08). MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. The firm had revenue of $31.26 million during the quarter, compared to analyst estimates of $40.03 million. During the same period in the prior year, the business posted $0.07 EPS. The firm’s quarterly revenue was down 51.2% compared to the same quarter last year. Analysts forecast that MP Materials Corp. will post -0.47 earnings per share for the current year.

MP Materials declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 3rd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.