Banque Transatlantique SA Sells 114,772 Shares of MP Materials Corp. $MP

Banque Transatlantique SA reduced its stake in MP Materials Corp. (NYSE:MP - Free Report) by 70.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,000 shares of the company's stock after selling 114,772 shares during the quarter. Banque Transatlantique SA's holdings in MP Materials were worth $2,426,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of MP Materials in the 4th quarter valued at $26,000. REAP Financial Group LLC bought a new position in MP Materials during the fourth quarter worth $26,000. Financial Consulate Inc. lifted its holdings in MP Materials by 555.3% in 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 period. Los Angeles Capital Management LLC acquired a new position in MP Materials in the fourth quarter valued at $28,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in MP Materials during the fourth quarter valued at $36,000. 52.55% of the stock is currently owned by institutional investors.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 20,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the transaction, the chief financial officer directly owned 109,017 shares in the company, valued at $8,176,275. This trade represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James H. Litinsky sold 259,179 shares of MP Materials stock in a transaction on Monday, April 20th. The shares were sold at an average price of $64.03, for a total transaction of $16,595,231.37. Following the completion of the sale, the chief executive officer directly owned 12,505,965 shares of the company's stock, valued at approximately $800,756,938.95. The trade was a 2.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,205,167 shares of company stock valued at $79,371,654 over the last ninety days. 8.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MP. Morgan Stanley increased their price target on MP Materials from $62.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of MP Materials in a research report on Tuesday, May 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MP Materials in a report on Tuesday, April 21st. DA Davidson reissued a "buy" rating and issued a $82.00 price target on shares of MP Materials in a research note on Friday, June 5th. Finally, Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MP Materials presently has a consensus rating of "Buy" and an average target price of $80.14.

MP Materials Price Performance

MP stock opened at $60.83 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.18 and a quick ratio of 6.58. The company's 50-day moving average is $62.22 and its 200-day moving average is $59.66. The stock has a market capitalization of $10.83 billion, a PE ratio of -144.83 and a beta of 1.86. MP Materials Corp. has a 1 year low of $29.58 and a 1 year high of $100.25.

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

About MP Materials

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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