Lighthouse Investment Partners LLC Invests $624,000 in MP Materials Corp. (NYSE:MP)

Lighthouse Investment Partners LLC purchased a new stake in shares of MP Materials Corp. (NYSE:MP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 40,000 shares of the company’s stock, valued at approximately $624,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Interval Partners LP acquired a new stake in MP Materials during the 4th quarter valued at $164,000. Janus Henderson Group PLC increased its holdings in MP Materials by 39.3% during the 4th quarter. Janus Henderson Group PLC now owns 59,164 shares of the company’s stock valued at $923,000 after purchasing an additional 16,698 shares in the last quarter. Deutsche Bank AG increased its holdings in MP Materials by 100.9% during the 4th quarter. Deutsche Bank AG now owns 10,682 shares of the company’s stock valued at $167,000 after purchasing an additional 5,365 shares in the last quarter. CoreCommodity Management LLC increased its holdings in MP Materials by 132.8% during the 4th quarter. CoreCommodity Management LLC now owns 36,570 shares of the company’s stock valued at $570,000 after purchasing an additional 20,858 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in MP Materials during the 4th quarter valued at $2,075,000. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Stock Up 0.5%

NYSE MP opened at $20.88 on Thursday. The stock has a fifty day moving average of $24.59 and a 200-day moving average of $21.91. The stock has a market capitalization of $3.41 billion, a P/E ratio of -35.39 and a beta of 2.24. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $29.72. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The company had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, equities research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on MP Materials from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Monday. DA Davidson lifted their target price on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, March 19th. Finally, BMO Capital Markets lifted their target price on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.61.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 15,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the transaction, the chief financial officer now directly owns 214,812 shares in the company, valued at $5,799,924. This trade represents a 6.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $27.08, for a total value of $5,393,794.40. Following the transaction, the chief executive officer now owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. This represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 943,792 shares of company stock worth $25,286,567 in the last three months. Insiders own 12.60% of the company’s stock.

About MP Materials

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.