Alpine Woods Capital Investors LLC Buys 13,109 Shares of MP Materials Corp. $MP

Alpine Woods Capital Investors LLC grew its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 138.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,557 shares of the company's stock after purchasing an additional 13,109 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in MP Materials were worth $1,089,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MP. Norges Bank bought a new stake in MP Materials during the fourth quarter valued at $82,531,000. BNP Paribas Financial Markets raised its position in shares of MP Materials by 76.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company's stock worth $97,200,000 after acquiring an additional 1,264,243 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of MP Materials by 71.6% in the 4th quarter. Van ECK Associates Corp now owns 2,834,914 shares of the company's stock valued at $143,220,000 after purchasing an additional 1,183,307 shares during the period. 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 purchasing an additional 1,000,000 shares during the period. 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 purchasing an additional 887,148 shares during the period. 52.55% of the stock is owned by institutional investors.

MP Materials Stock Down 0.7%

MP Materials stock opened at $41.35 on Friday. The firm has a 50 day moving average price of $54.57 and a 200-day moving average price of $58.20. 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 twelve month low of $37.81 and a twelve month high of $100.25. The company has a market capitalization of $7.36 billion, a P/E ratio of -98.46 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 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.04. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The company had revenue of $90.65 million for the quarter, compared to analysts' expectations of $74.82 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. MP Materials's revenue was up 49.1% on a year-over-year basis. As a group, equities analysts predict that MP Materials Corp. will post 0.05 EPS for the current year.

Insider Buying and Selling

In other MP Materials news, COO Michael Stuart Rosenthal purchased 10,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average cost of $54.30 per share, for a total transaction of $543,000.00. Following the purchase, the chief operating officer owned 136,622 shares of the company's stock, valued at $7,418,574.60. This represents a 7.90% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 20,000 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer owned 109,017 shares in the company, valued at $8,176,275. The trade was a 15.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on MP. Canaccord Genuity Group set a $82.00 target price on MP Materials in a research note on Friday, May 8th. JPMorgan Chase & Co. dropped their price target on MP Materials from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday. Morgan Stanley increased their price target on MP Materials from $70.00 to $71.50 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Wedbush raised their price objective on shares of MP Materials from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Finally, Citigroup reaffirmed a "positive" rating on shares of MP Materials in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, MP Materials presently has an average rating of "Buy" and a consensus price target of $78.21.

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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