14,200 Shares in MP Materials Corp. (NYSE:MP) Bought by Canton Hathaway LLC

Canton Hathaway LLC bought a new position in MP Materials Corp. (NYSE:MP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,200 shares of the company’s stock, valued at approximately $347,000.

Several other hedge funds also recently made changes to their positions in MP. Price T Rowe Associates Inc. MD increased its position in MP Materials by 44.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company’s stock valued at $101,986,000 after purchasing an additional 2,005,505 shares during the period. BNP Paribas Financial Markets purchased a new position in MP Materials during the 4th quarter valued at $14,886,000. Raymond James Financial Inc. purchased a new position in MP Materials during the 4th quarter valued at $6,284,000. HITE Hedge Asset Management LLC purchased a new position in MP Materials during the 4th quarter valued at $6,019,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of MP Materials in the 4th quarter worth about $5,524,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.50% of the company’s stock.

MP Materials Price Performance

Shares of NYSE MP opened at $37.75 on Friday. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $39.10. The firm has a market cap of $6.17 billion, a P/E ratio of -58.08 and a beta of 2.14. The company has a 50 day moving average of $24.84 and a 200 day moving average of $23.00. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81.

MP Materials (NYSE:MP) last posted its 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). The company had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. MP Materials’s revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.04) EPS. As a group, research analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley raised shares of MP Materials from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $23.00 to $34.00 in a research report on Thursday, June 5th. BMO Capital Markets upped their target price on shares of MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research report on Thursday, March 20th. DA Davidson upped their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. reduced their target price on shares of MP Materials from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, May 12th. Finally, Robert W. Baird upped their target price on shares of MP Materials from $30.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, MP Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.06.

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.