Game Creek Capital LP Invests $299,000 in MP Materials Corp. $MP

Game Creek Capital LP acquired a new position in MP Materials Corp. (NYSE:MP) during the second quarter, HoldingsChannel.com reports. The fund acquired 9,000 shares of the company’s stock, valued at approximately $299,000.

Other large investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in MP Materials in the second quarter worth approximately $25,000. AdvisorNet Financial Inc grew its position in shares of MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock valued at $27,000 after acquiring an additional 506 shares during the period. MAI Capital Management increased its stake in shares of MP Materials by 132.7% in 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 in the last quarter. Spire Wealth Management raised its holdings in MP Materials by 181.3% in 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 period. Finally, Harbour Investments Inc. lifted its position in MP Materials by 32.9% during the second quarter. Harbour Investments Inc. now owns 1,220 shares of the company’s stock valued at $41,000 after purchasing an additional 302 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on MP. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $75.00 to $74.00 in a research note on Friday, November 14th. Benchmark restated a “buy” rating on shares of MP Materials in a research note on Friday, August 29th. Wall Street Zen downgraded shares of MP Materials from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Daiwa America raised shares of MP Materials to a “strong-buy” rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.91.

MP Materials Stock Down 5.6%

NYSE MP opened at $56.67 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 current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. The stock has a market cap of $10.04 billion, a PE ratio of -79.81 and a beta of 1.69. The stock’s 50 day moving average is $65.50 and its 200 day moving average is $57.95.

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 business had revenue of $53.55 million during the quarter, compared to analyst estimates of $49.72 million. During the same period last year, the firm posted ($0.12) EPS. The company’s revenue was down 14.9% on a year-over-year basis. Research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ryan Corbett sold 38,146 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the completion of the transaction, the chief financial officer owned 156,666 shares in the company, valued at $9,399,960. This trade represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James H. Litinsky sold 385,000 shares of MP Materials stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $62.94, for a total value of $24,231,900.00. Following the completion of the sale, the chief executive officer directly owned 13,105,965 shares in the company, valued at $824,889,437.10. This trade represents a 2.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 691,557 shares of company stock worth $43,538,586. 9.50% of the stock is currently owned by 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.