18,868 Shares in MP Materials Corp. $MP Acquired by Cypress Capital Management LLC WY

Key Points

• Cypress Capital Management LLC WY opened a new position in MP Materials during the fourth quarter, buying 18,868 shares valued at about $953,000.
• MP Materials has seen continued institutional interest, with several other hedge funds also adding shares; overall, institutional investors own 52.55% of the company.
• Analysts remain broadly positive on the stock, with an average Buy rating and average target price of $80.08, while the company recently beat earnings and revenue expectations for the quarter.

Cypress Capital Management LLC WY acquired a new position in MP Materials Corp. (NYSE:MP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,868 shares of the company's stock, valued at approximately $953,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MP. Whittier Trust Co. of Nevada Inc. bought a new position in MP Materials in the fourth quarter worth approximately $26,000. Financial Consulate Inc. lifted its position in shares of MP Materials by 555.3% during the fourth quarter. Financial Consulate Inc. now owns 557 shares of the company's stock valued at $28,000 after buying an additional 472 shares during the last quarter. Bessemer Group Inc. grew its position in shares of MP Materials by 75.9% in the 3rd quarter. Bessemer Group Inc. now owns 642 shares of the company's stock worth $43,000 after buying an additional 277 shares during the last quarter. Montag A & Associates Inc. grew its position in shares of MP Materials by 106.2% in the 3rd quarter. Montag A & Associates Inc. now owns 635 shares of the company's stock worth $43,000 after buying an additional 327 shares during the last quarter. Finally, Bogart Wealth LLC purchased a new position in shares of MP Materials in the 4th quarter worth approximately $47,000. Institutional investors own 52.55% of the company's stock.

Wall Street Analysts Forecast Growth

MP has been the subject of a number of recent analyst reports. Canaccord Genuity Group set a $82.00 price objective on MP Materials in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of MP Materials in a research report on Tuesday, May 12th. William Blair reissued an "outperform" rating on shares of MP Materials in a research report on Wednesday, March 4th. Wedbush lifted their price target on MP Materials from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Finally, Wall Street Zen raised MP Materials from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MP Materials has an average rating of "Buy" and an average target price of $80.08.

MP Materials Stock Performance

Shares of MP stock opened at $67.02 on Wednesday. The stock has a market cap of $11.93 billion, a PE ratio of -159.57 and a beta of 1.90. The business has a 50-day simple moving average of $58.95 and a 200-day simple moving average of $59.33. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 52-week low of $18.64 and a 52-week high of $100.25.

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

Insider Buying and Selling

In other news, CFO Ryan Corbett sold 46,000 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $60.00, for a total transaction of $2,760,000.00. Following the completion of the transaction, the chief financial officer directly owned 129,017 shares in the company, valued at $7,741,020. This trade represents a 26.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James H. Litinsky sold 259,179 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $64.03, for a total value of $16,595,231.37. Following the completion of the sale, the chief executive officer owned 12,505,965 shares in the company, valued at approximately $800,756,938.95. The trade was a 2.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 666,000 shares of company stock valued at $43,103,382. 8.20% of the stock is 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.

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