Guardian Partners Inc. Has $721,000 Position in MP Materials Corp. $MP

Guardian Partners Inc. cut its stake in shares of MP Materials Corp. (NYSE:MP) by 57.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,901 shares of the company’s stock after selling 20,199 shares during the quarter. Guardian Partners Inc.’s holdings in MP Materials were worth $721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MP. Norges Bank acquired a new stake in MP Materials in the fourth quarter valued at approximately $82,531,000. BNP Paribas Financial Markets increased its holdings in shares of MP Materials by 76.3% during the second quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock worth $97,200,000 after buying an additional 1,264,243 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of MP Materials by 71.6% during the fourth quarter. Van ECK Associates Corp now owns 2,834,914 shares of the company’s stock worth $143,220,000 after buying an additional 1,183,307 shares in the last quarter. Hancock Prospecting Pty Ltd lifted its stake in shares of MP Materials by 7.2% in the 3rd quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company’s stock valued at $996,741,000 after acquiring an additional 1,000,000 shares during the last quarter. Finally, Amundi lifted its stake in shares of MP Materials by 1,320.8% in the 3rd quarter. Amundi now owns 954,317 shares of the company’s stock valued at $70,934,000 after acquiring an additional 887,148 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Trading Down 4.3%

NYSE MP opened at $41.28 on Wednesday. The firm has a market capitalization of $7.35 billion, a PE ratio of -98.30 and a beta of 1.86. The business’s 50-day moving average price is $55.79 and its two-hundred day moving average price is $58.63. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 12 month low of $39.91 and a 12 month high of $100.25.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $90.65 million during the quarter, compared to the consensus estimate of $74.82 million. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The firm’s revenue was up 49.1% compared to the same quarter last year. During the same period last year, the company earned ($0.12) earnings per share. On average, analysts expect that MP Materials Corp. will post 0.05 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Needham & Company LLC reduced their price objective on MP Materials from $81.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Morgan Stanley lifted their price target on MP Materials from $70.00 to $71.50 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Wall Street Zen cut MP Materials from a “hold” rating to a “sell” rating in a report on Saturday. Canaccord Genuity Group set a $82.00 price objective on MP Materials in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of MP Materials from $70.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $79.42.

Insider Buying and Selling at MP Materials

In other news, CEO James H. Litinsky sold 185,167 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $69.14, for a total value of $12,802,446.38. Following the sale, the chief executive officer directly owned 11,620,798 shares of the company’s stock, valued at approximately $803,461,973.72. This represents a 1.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ryan Corbett sold 20,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief financial officer directly owned 109,017 shares in the company, valued at approximately $8,176,275. This represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 905,167 shares of company stock valued at $60,161,837. 8.20% of the stock is currently owned by company 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.