128,417 Shares in MP Materials Corp. $MP Bought by Granahan Investment Management LLC

Granahan Investment Management LLC acquired a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 128,417 shares of the company's stock, valued at approximately $6,488,000. Granahan Investment Management LLC owned about 0.07% of MP Materials as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MP. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of MP Materials in the fourth quarter worth $26,000. REAP Financial Group LLC acquired a new position in shares of MP Materials in the fourth quarter worth $26,000. Los Angeles Capital Management LLC acquired a new position in shares of MP Materials in the fourth quarter worth $28,000. Financial Consulate Inc. raised its holdings in shares of MP Materials by 555.3% in the fourth quarter. Financial Consulate Inc. now owns 557 shares of the company's stock worth $28,000 after acquiring an additional 472 shares during the last quarter. Finally, Montag A & Associates Inc. raised its holdings in shares of MP Materials by 106.2% in the third quarter. Montag A & Associates Inc. now owns 635 shares of the company's stock worth $43,000 after acquiring an additional 327 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 20,000 shares of the business's stock in a transaction dated Friday, May 8th. The stock was 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 owned 109,017 shares of the company's stock, valued at approximately $8,176,275. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Stuart Rosenthal purchased 10,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $54.30 per share, with a total value of $543,000.00. Following the transaction, the chief operating officer owned 136,622 shares of the company's stock, valued at $7,418,574.60. This trade represents a 7.90% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,205,167 shares of company stock valued at $79,371,654. Company insiders own 8.20% of the company's stock.

MP Materials Price Performance

MP stock opened at $57.01 on Wednesday. The stock has a 50-day moving average price of $61.80 and a two-hundred day moving average price of $59.66. MP Materials Corp. has a 12-month low of $29.58 and a 12-month high of $100.25. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.15 billion, a PE ratio of -135.73 and a beta of 1.86.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.04. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The firm had revenue of $90.65 million during the quarter, compared to the consensus estimate of $74.82 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The firm's quarterly revenue was up 49.1% compared to the same quarter last year. As a group, research analysts predict that MP Materials Corp. will post -0.04 EPS for the current year.

Analyst Upgrades and Downgrades

MP has been the subject of a number of analyst reports. William Blair reissued an "outperform" rating on shares of MP Materials in a report on Wednesday, March 4th. Wall Street Zen raised MP Materials from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Canaccord Genuity Group set a $82.00 price target on MP Materials in a report on Friday, May 8th. DA Davidson reissued a "buy" rating and issued a $82.00 price target on shares of MP Materials in a report on Friday, June 5th. Finally, Morgan Stanley boosted their price target on MP Materials from $62.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $80.14.

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.

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