20,000 Shares in MP Materials Corp. $MP Purchased by Monetta Financial Services Inc.

Key Points

• Monetta Financial Services purchased 20,000 shares of MP Materials during the second quarter, worth approximately $1.12 million. Institutional investors collectively own 52.55% of the company.
• Insider activity was mixed: COO Michael Rosenthal bought 10,000 shares, while CEO James Litinsky sold 185,167 shares; insiders sold 585,167 shares worth about $39 million over the past 90 days.
• MP Materials reported quarterly revenue of $108.49 million, up 89% year over year, while posting a loss of $0.01 per share. Analysts maintain a consensus “Buy” rating with an average price target of $78.21, despite some recent target reductions and downgrades.

Monetta Financial Services Inc. bought a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 20,000 shares of the company's stock, valued at approximately $1,120,000.

Other large investors have also recently bought and sold shares of the company. EMC Capital Management bought a new stake in MP Materials during the 4th quarter worth about $25,000. REAP Financial Group LLC acquired a new position in MP Materials in the fourth quarter valued at about $26,000. Los Angeles Capital Management LLC bought a new stake in MP Materials in the 4th quarter valued at $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of MP Materials in the fourth quarter worth $36,000. Finally, Mcguire Capital Advisors Inc. bought a new position in MP Materials in the fourth quarter valued at approximately $38,000. 52.55% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Michael Stuart Rosenthal acquired 10,000 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $54.30 per share, with a total value of $543,000.00. Following the acquisition, the chief operating officer directly owned 136,622 shares in the company, valued at $7,418,574.60. This represents a 7.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 185,167 shares of MP Materials stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $69.14, for a total transaction of $12,802,446.38. Following the completion of the sale, the chief executive officer directly owned 11,620,798 shares in the company, valued at $803,461,973.72. This represents a 1.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 585,167 shares of company stock valued at $39,028,272 over the last 90 days. 8.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MP shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of MP Materials in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft lowered their target price on MP Materials from $70.00 to $61.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Canaccord Genuity Group set a $82.00 price objective on shares of MP Materials in a report on Friday, May 8th. Wall Street Zen downgraded MP Materials from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Finally, JPMorgan Chase & Co. cut their price target on MP Materials from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $78.21.

MP Materials Price Performance

MP opened at $56.79 on Thursday. The stock has a 50-day moving average price of $51.76 and a 200-day moving average price of $56.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.51 and a quick ratio of 8.56. MP Materials Corp. has a 1 year low of $37.81 and a 1 year high of $100.25. The firm has a market cap of $10.11 billion, a PE ratio of -167.02 and a beta of 1.88.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The firm had revenue of $108.49 million during the quarter, compared to analyst estimates of $96.89 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The business's revenue for the quarter was up 89.0% compared to the same quarter last year. Sell-side analysts predict that MP Materials Corp. will post -0.07 earnings per share for the current fiscal year.

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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