Lisanti Capital Growth LLC Grows Position in MP Materials Corp. $MP

Lisanti Capital Growth LLC boosted its position in shares of MP Materials Corp. (NYSE:MP) by 9.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 149,635 shares of the company’s stock after acquiring an additional 12,930 shares during the quarter. MP Materials makes up about 1.4% of Lisanti Capital Growth LLC’s portfolio, making the stock its 28th biggest position. Lisanti Capital Growth LLC’s holdings in MP Materials were worth $4,978,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of MP Materials during the first quarter valued at approximately $213,000. Teacher Retirement System of Texas bought a new stake in shares of MP Materials during the 1st quarter worth approximately $437,000. Envestnet Asset Management Inc. boosted its holdings in MP Materials by 12.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 23,254 shares of the company’s stock valued at $568,000 after acquiring an additional 2,604 shares during the period. M&T Bank Corp grew its position in MP Materials by 12.2% in the 1st quarter. M&T Bank Corp now owns 69,498 shares of the company’s stock valued at $1,696,000 after acquiring an additional 7,543 shares during the last quarter. Finally, Alps Advisors Inc. increased its stake in MP Materials by 24.2% in the first quarter. Alps Advisors Inc. now owns 99,400 shares of the company’s stock worth $2,426,000 after purchasing an additional 19,372 shares during the period. Institutional investors own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MP shares. Morgan Stanley set a $69.00 target price on shares of MP Materials in a research report on Wednesday, October 8th. Daiwa Capital Markets assumed coverage on MP Materials in a research report on Monday, September 22nd. They set an “outperform” rating and a $80.00 target price for the company. JPMorgan Chase & Co. increased their price target on MP Materials from $18.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Jefferies Financial Group upgraded MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, August 1st. Finally, Canaccord Genuity Group upped their price objective on shares of MP Materials from $64.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.80.

MP Materials Trading Up 12.8%

NYSE MP opened at $58.59 on Friday. MP Materials Corp. has a 12-month low of $15.56 and a 12-month high of $100.25. The company has a fifty day simple moving average of $69.71 and a two-hundred day simple moving average of $51.72. 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 market cap of $10.38 billion, a P/E ratio of -82.52 and a beta of 2.26.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. The company had revenue of $53.55 million during the quarter, compared to analysts’ expectations of $49.72 million. MP Materials had a negative return on equity of 9.42% and a negative net margin of 50.55%.The firm’s revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) EPS. On average, analysts forecast 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 firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the completion of the transaction, the chief operating officer directly owned 1,284,409 shares of the company’s stock, valued at approximately $92,503,136.18. This trade represents a 10.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 9.50% of the stock is currently owned by corporate insiders.

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.