Bayforest Capital Ltd Increases Holdings in MP Materials Corp. $MP

Key Points

• Bayforest Capital Ltd increased its holdings in MP Materials Corp. by 314.6% during the first quarter, bringing its total to 7,205 shares valued at approximately $176,000.
• Several large investors, including UBS AM and Vanguard Group, significantly raised their positions in MP Materials, indicating growing institutional interest in the stock.
• MP Materials reported a revenue increase of 83.6% year-over-year, with quarterly earnings topping expectations, yet it still recorded a negative EPS of ($0.13).

Bayforest Capital Ltd grew its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 314.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,205 shares of the company's stock after acquiring an additional 5,467 shares during the period. Bayforest Capital Ltd's holdings in MP Materials were worth $176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in MP. Driehaus Capital Management LLC purchased a new position in shares of MP Materials in the first quarter valued at about $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of MP Materials by 429.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company's stock valued at $37,839,000 after acquiring an additional 1,257,282 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of MP Materials by 7.4% in the first quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock valued at $333,503,000 after acquiring an additional 942,105 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of MP Materials by 73.7% in the first quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company's stock valued at $40,455,000 after acquiring an additional 703,042 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of MP Materials by 25.3% in the first quarter. Invesco Ltd. now owns 2,655,102 shares of the company's stock valued at $64,811,000 after acquiring an additional 536,522 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Cowen reaffirmed a "buy" rating on shares of MP Materials in a report on Friday, August 8th. 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. Wall Street Zen raised MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Cfra Research raised MP Materials to a "moderate buy" rating in a report on Monday, August 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.88.

Insider Buying and Selling

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction dated 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 transaction, the chief operating officer owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. This trade represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.50% of the company's stock.

MP Materials Trading Up 1.2%

MP opened at $63.18 on Friday. The firm has a market cap of $11.19 billion, a P/E ratio of -100.29 and a beta of 2.32. MP Materials Corp. has a 12 month low of $13.40 and a 12 month high of $82.50. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average of $62.53 and a 200 day moving average of $38.34.

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

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.

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