Vontobel Holding Ltd. Decreases Position in MP Materials Corp. $MP

Vontobel Holding Ltd. reduced its stake in MP Materials Corp. (NYSE:MP) by 13.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,762 shares of the company’s stock after selling 3,852 shares during the quarter. Vontobel Holding Ltd.’s holdings in MP Materials were worth $857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Shell Asset Management Co. lifted its position in shares of MP Materials by 7.3% in the second quarter. Shell Asset Management Co. now owns 157,261 shares of the company’s stock valued at $5,232,000 after acquiring an additional 10,717 shares in the last quarter. Ameliora Wealth Management Ltd. lifted its position in shares of MP Materials by 200.0% in the second quarter. Ameliora Wealth Management Ltd. now owns 1,500 shares of the company’s stock valued at $50,000 after acquiring an additional 1,000 shares in the last quarter. Tcfg Wealth Management LLC lifted its position in shares of MP Materials by 106.7% in the second quarter. Tcfg Wealth Management LLC now owns 18,015 shares of the company’s stock valued at $599,000 after acquiring an additional 9,300 shares in the last quarter. Chung Wu Investment Group LLC purchased a new stake in shares of MP Materials in the second quarter valued at $136,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of MP Materials in the second quarter valued at $14,998,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Morgan Stanley set a $69.00 price objective on MP Materials in a research report on Wednesday. Daiwa America upgraded MP Materials to a “strong-buy” rating in a research note on Monday, September 22nd. Canaccord Genuity Group upped their target price on MP Materials from $64.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Jefferies Financial Group upgraded MP Materials from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $74.00.

MP Materials Stock Performance

MP Materials stock opened at $78.59 on Monday. The firm has a market capitalization of $13.92 billion, a P/E ratio of -124.75 and a beta of 2.32. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. The stock has a fifty day moving average price of $69.91 and a 200 day moving average price of $45.24. MP Materials Corp. has a 52 week low of $15.56 and a 52 week high of $84.92.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. The company had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The firm’s revenue was up 83.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. Equities research analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the completion of the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at $92,503,136.18. This represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.60% of the stock is owned by corporate insiders.

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.