Financial Enhancement Group LLC Makes New $1.63 Million Investment in MP Materials Corp. $MP

Financial Enhancement Group LLC acquired a new stake in shares of MP Materials Corp. (NYSE:MP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,094 shares of the company’s stock, valued at approximately $1,630,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MP. Wedmont Private Capital grew its position in MP Materials by 1.7% during the 3rd quarter. Wedmont Private Capital now owns 11,824 shares of the company’s stock worth $872,000 after purchasing an additional 195 shares during the last quarter. Cresset Asset Management LLC raised its holdings in shares of MP Materials by 1.0% in the second quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock worth $713,000 after buying an additional 204 shares during the last quarter. Harbour Investments Inc. lifted 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 period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of MP Materials by 2.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company’s stock valued at $412,000 after buying an additional 358 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of MP Materials by 40.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,400 shares of the company’s stock valued at $47,000 after buying an additional 400 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MP shares. Deutsche Bank Aktiengesellschaft upgraded MP Materials from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $71.00 in a research note on Monday, November 10th. Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $68.50 to $71.00 in a research note on Friday, December 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research report on Wednesday, October 8th. Benchmark reiterated a “buy” rating on shares of MP Materials in a report on Friday, August 29th. Finally, Daiwa America upgraded shares of MP Materials to a “strong-buy” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, MP Materials currently has an average rating of “Moderate Buy” and a consensus target price of $78.91.

MP Materials Stock Up 3.7%

Shares of MP opened at $53.96 on Friday. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of -76.00 and a beta of 1.69. MP Materials Corp. has a 52 week low of $15.56 and a 52 week high of $100.25. The stock’s 50-day moving average price is $63.40 and its 200-day moving average price is $59.08. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP) last announced its quarterly earnings results 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 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 in the previous year, the company posted ($0.12) earnings per share. MP Materials’s revenue for the quarter was down 14.9% on a year-over-year basis. On average, sell-side analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Buying and Selling at MP Materials

In related news, CFO Ryan Corbett sold 38,146 shares of the 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 sale, the chief financial officer directly owned 156,666 shares of the company’s stock, valued at approximately $9,399,960. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 385,000 shares of the firm’s 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 sale, the chief executive officer owned 13,105,965 shares in the company, valued at approximately $824,889,437.10. This represents a 2.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 691,557 shares of company stock valued at $43,538,586. Company insiders own 9.50% of the company’s stock.

MP Materials Profile

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.