Dorsey Wright & Associates Takes $2.14 Million Position in MP Materials Corp. $MP

Dorsey Wright & Associates acquired a new position in MP Materials Corp. (NYSE:MP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 64,221 shares of the company’s stock, valued at approximately $2,137,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Highline Wealth Partners LLC acquired a new position in MP Materials during the 2nd quarter worth $25,000. AdvisorNet Financial Inc increased its stake in shares of MP Materials by 168.7% in the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after purchasing an additional 506 shares during the period. MAI Capital Management lifted its position in shares of MP Materials by 132.7% during the 1st quarter. MAI Capital Management now owns 1,403 shares of the company’s stock worth $34,000 after purchasing an additional 800 shares during the last quarter. Spire Wealth Management lifted its position in shares of MP Materials by 181.3% during the 2nd quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock worth $34,000 after purchasing an additional 651 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in MP Materials during the 1st quarter valued at approximately $35,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the firm’s stock in a transaction dated 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 owned 1,284,409 shares in the company, valued at $92,503,136.18. This trade represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.60% of the stock is owned by company insiders.

MP Materials Stock Up 2.8%

MP opened at $58.59 on Wednesday. MP Materials Corp. has a fifty-two week low of $15.56 and a fifty-two week high of $100.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. The firm’s fifty day moving average price is $68.90 and its two-hundred day moving average price is $53.64. The company has a market capitalization of $10.38 billion, a P/E ratio of -82.52 and a beta of 2.26.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The company had revenue of $53.55 million during the quarter, compared to analysts’ expectations of $49.72 million. During the same quarter in the prior year, the company posted ($0.12) EPS. The business’s revenue was down 14.9% on a year-over-year basis. On average, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on MP shares. Deutsche Bank Aktiengesellschaft raised MP Materials from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $71.00 in a research report on Monday, November 10th. Benchmark reaffirmed a “buy” rating on shares of MP Materials in a research report on Friday, August 29th. Cfra Research raised shares of MP Materials to a “moderate buy” rating in a report on Monday, August 11th. Bank of America raised their price target on shares of MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Daiwa Capital Markets began coverage on shares of MP Materials in a research report on Monday, September 22nd. They set an “outperform” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

MP Materials 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.