Valeo Financial Advisors LLC Acquires New Shares in MP Materials Corp. $MP

Valeo Financial Advisors LLC bought a new stake in MP Materials Corp. (NYSE:MP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 450,791 shares of the company’s stock, valued at approximately $14,998,000. Valeo Financial Advisors LLC owned about 0.25% of MP Materials as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Highline Wealth Partners LLC bought a new stake in shares of MP Materials during the 2nd quarter valued at approximately $25,000. AdvisorNet Financial Inc lifted its stake in MP Materials by 168.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock valued at $27,000 after purchasing an additional 506 shares during the last quarter. MAI Capital Management boosted its position in MP Materials by 132.7% in the first quarter. MAI Capital Management now owns 1,403 shares of the company’s stock valued at $34,000 after buying an additional 800 shares in the last quarter. Spire Wealth Management grew its stake in shares of MP Materials by 181.3% during the second quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock worth $34,000 after buying an additional 651 shares during the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of MP Materials by 32.9% during the second quarter. Harbour Investments Inc. now owns 1,220 shares of the company’s stock worth $41,000 after buying an additional 302 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

MP Materials Trading Down 5.6%

NYSE MP opened at $56.67 on Monday. The firm has a market capitalization of $10.04 billion, a PE ratio of -79.81 and a beta of 1.70. The business’s 50-day moving average price is $65.50 and its two-hundred day moving average price is $58.49. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $100.25.

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

Insider Activity at MP Materials

In related news, CEO James H. Litinsky sold 385,000 shares of MP Materials stock in a transaction on Friday, December 5th. The shares were sold at an average price of $62.94, for a total transaction of $24,231,900.00. Following the completion of the transaction, the chief executive officer owned 13,105,965 shares of the company’s stock, valued at $824,889,437.10. This trade represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ryan Corbett sold 38,146 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were 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 approximately $9,399,960. The trade was a 19.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 691,557 shares of company stock valued at $43,538,586. Company insiders own 12.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Daiwa America upgraded MP Materials to a “strong-buy” rating in a research note on Monday, September 22nd. The Goldman Sachs Group assumed coverage on MP Materials in a research report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 target price for the company. BMO Capital Markets raised MP Materials from a “market perform” rating to an “outperform” rating and cut their price target for the company from $76.00 to $75.00 in a research note on Monday, November 24th. Bank of America upped their price objective on MP Materials from $78.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.91.

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.