9,320 Shares in MP Materials Corp. $MP Acquired by Cherry Creek Investment Advisors Inc.

Cherry Creek Investment Advisors Inc. purchased a new stake in shares of MP Materials Corp. (NYSE:MP) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,320 shares of the company’s stock, valued at approximately $625,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in shares of MP Materials by 26.5% during the 1st quarter. Royal Bank of Canada now owns 234,185 shares of the company’s stock worth $5,716,000 after buying an additional 49,052 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of MP Materials in the first quarter valued at approximately $215,000. Integrated Wealth Concepts LLC acquired a new position in shares of MP Materials in the first quarter valued at approximately $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in MP Materials by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock worth $265,000 after purchasing an additional 479 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in MP Materials by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company’s stock valued at $4,734,000 after purchasing an additional 51,348 shares during the period. 52.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

MP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded MP Materials from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $71.00 in a research report on Monday, November 10th. Wall Street Zen lowered shares of MP Materials from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Bank of America raised their target price on shares of MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. The Goldman Sachs Group started coverage on MP Materials in a research note on Wednesday, November 19th. They issued a “buy” rating and a $77.00 price target for the company. Finally, JPMorgan Chase & Co. raised MP Materials from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $75.00 to $74.00 in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MP Materials presently has an average rating of “Moderate Buy” and an average target price of $78.91.

MP Materials Stock Up 9.1%

Shares of MP opened at $64.51 on Wednesday. The firm has a 50 day simple moving average of $59.87 and a two-hundred day simple moving average of $64.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. MP Materials Corp. has a one year low of $18.64 and a one year high of $100.25. The company has a market cap of $11.43 billion, a P/E ratio of -90.86 and a beta of 1.60.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $49.72 million. During the same quarter last year, the company posted ($0.12) EPS. The company’s revenue for the quarter was down 14.9% compared to the same quarter last year. Research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO James H. Litinsky sold 272,600 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the completion of the transaction, the chief executive officer directly owned 12,805,965 shares in the company, valued at $821,758,774.05. This represents a 2.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ryan Corbett sold 38,146 shares of the stock in a transaction that occurred 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 directly owned 156,666 shares of the company’s stock, valued at approximately $9,399,960. The trade was a 19.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 991,557 shares of company stock worth $62,785,202. 12.60% of the stock is currently owned by corporate insiders.

MP Materials Company 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.