6,874 Shares in MP Materials Corp. $MP Acquired by Blair William & Co. IL

Key Points

• Blair William & Co. IL has acquired 6,874 shares in MP Materials Corp., valued at approximately $229,000, as part of their investment strategy during the 2nd quarter.
• Insider selling occurred when COO Michael Stuart Rosenthal sold 150,000 shares for over $10.8 million, indicating a 10.46% decrease in his holdings.
• MP Materials has received mixed analyst ratings, with a consensus rating of "Moderate Buy" and a price target of $77.80, while the stock price has decreased by 3.9% recently.

Blair William & Co. IL purchased a new position in MP Materials Corp. (NYSE:MP - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,874 shares of the company's stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MP. Highline Wealth Partners LLC bought a new position in shares of MP Materials in the 2nd quarter worth $25,000. AdvisorNet Financial Inc increased its stake in MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock valued at $27,000 after purchasing an additional 506 shares in the last quarter. MAI Capital Management raised its holdings in MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock worth $34,000 after buying an additional 800 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of MP Materials in the first quarter valued at $35,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of MP Materials in the first quarter valued at $35,000. Institutional investors own 52.55% of the company's stock.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the completion of the sale, the chief operating officer owned 1,284,409 shares in the company, valued at $92,503,136.18. This trade represents a 10.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on MP shares. Weiss Ratings reissued a "sell (d-)" rating on shares of MP Materials in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Jefferies Financial Group raised MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research note on Friday, August 1st. Bank of America lifted their target price on MP Materials from $78.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Benchmark reissued a "buy" rating on shares of MP Materials in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, MP Materials has a consensus rating of "Moderate Buy" and a consensus price target of $77.80.

MP Materials Stock Down 3.9%

Shares of NYSE:MP opened at $80.55 on Friday. The company has a market capitalization of $14.27 billion, a PE ratio of -127.86 and a beta of 2.32. MP Materials Corp. has a 1 year low of $15.56 and a 1 year high of $100.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The business has a fifty day moving average price of $71.94 and a two-hundred day moving average price of $47.34.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company had revenue of $57.39 million for the quarter, compared to the consensus estimate of $44.84 million. During the same period in the previous year, the firm earned ($0.17) EPS. The firm's quarterly revenue was up 83.6% on a year-over-year basis. Analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

MP Materials Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.

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