Ardsley Advisory Partners LP Has $5.37 Million Holdings in MP Materials Corp. $MP

Key Points

• Ardsley Advisory Partners LP reduced its stake in MP Materials Corp. by 4.3% during the first quarter, selling 10,000 shares and holding 220,000 shares afterward, valued at approximately $5.37 million.
• In a significant insider transaction, COO Michael Stuart Rosenthal sold 150,000 shares for about $10.8 million, resulting in a 10.46% decrease in his ownership position.
• MP Materials reported earnings per share of ($0.13), exceeding analysts' expectations while revenue increased by 83.6% year-over-year to $57.39 million.

Ardsley Advisory Partners LP reduced its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 4.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 220,000 shares of the company's stock after selling 10,000 shares during the quarter. Ardsley Advisory Partners LP owned about 0.13% of MP Materials worth $5,370,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its position in shares of MP Materials by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock worth $322,000 after purchasing an additional 662 shares during the period. Northern Trust Corp increased its stake in shares of MP Materials by 23.6% during the 4th quarter. Northern Trust Corp now owns 978,284 shares of the company's stock worth $15,261,000 after purchasing an additional 186,748 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in MP Materials in the fourth quarter valued at approximately $14,886,000. Benjamin Edwards Inc. boosted its position in MP Materials by 23.7% during the fourth quarter. Benjamin Edwards Inc. now owns 55,811 shares of the company's stock worth $871,000 after purchasing an additional 10,693 shares during the period. Finally, Baird Financial Group Inc. boosted its holdings in shares of MP Materials by 811.7% during the 4th quarter. Baird Financial Group Inc. now owns 75,992 shares of the company's stock worth $1,185,000 after buying an additional 67,657 shares during the period. Institutional investors and hedge funds own 52.55% of the company's stock.

MP Materials Price Performance

Shares of MP traded down $1.23 during trading hours on Friday, reaching $62.95. The stock had a trading volume of 6,883,745 shares, compared to its average volume of 10,904,127. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. MP Materials Corp. has a 12 month low of $13.20 and a 12 month high of $82.50. The stock has a market capitalization of $11.15 billion, a PE ratio of -99.92 and a beta of 2.32. The company's 50-day moving average is $60.07 and its two-hundred day moving average is $37.26.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 business had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. During the same quarter last year, the business earned ($0.17) EPS. The firm's quarterly revenue was up 83.6% on a year-over-year basis. Research analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

MP has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. DA Davidson raised their target price on shares of MP Materials from $32.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday. Robert W. Baird upped their price target on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Morgan Stanley set a $65.00 price objective on shares of MP Materials and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.88.

Insider Buying and Selling at MP Materials

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

About MP Materials

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.