BNP Paribas Has $1.57 Million Stock Holdings in MP Materials Corp. $MP

Key Points

• BNP Paribas significantly increased its MP Materials stake by 1,455.6% in the second quarter, ending with 28,000 shares valued at approximately $1.57 million. Institutional investors collectively own 52.55% of the company.
• MP Materials reported quarterly revenue of $108.49 million, up 89% year over year and above analyst expectations, while earnings matched estimates at a loss of $0.01 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $78.21, although insider activity was mixed as the COO bought shares while the CEO sold 185,167 shares.

BNP Paribas grew its stake in MP Materials Corp. (NYSE:MP - Free Report) by 1,455.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,000 shares of the company's stock after purchasing an additional 26,200 shares during the period. BNP Paribas' holdings in MP Materials were worth $1,568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of MP. Norges Bank bought a new position in shares of MP Materials in the fourth quarter valued at approximately $82,531,000. BNP Paribas Financial Markets grew its holdings in MP Materials by 76.3% during 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 during the last quarter. Van ECK Associates Corp increased 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 buying an additional 1,183,307 shares during the period. Bank of New York Mellon Corp acquired a new position in MP Materials during the 2nd quarter valued at about $65,230,000. Finally, 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. 52.55% of the stock is currently owned by institutional investors.

Insider Transactions at MP Materials

In related news, COO Michael Stuart Rosenthal acquired 10,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $54.30 per share, with a total value of $543,000.00. Following the purchase, the chief operating officer directly owned 136,622 shares in the company, valued at approximately $7,418,574.60. This trade represents a 7.90% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James H. Litinsky sold 185,167 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $69.14, for a total value of $12,802,446.38. Following the sale, the chief executive officer owned 11,620,798 shares in the company, valued at approximately $803,461,973.72. This trade represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.20% of the stock is currently owned by corporate insiders.

MP Materials Stock Performance

NYSE MP opened at $56.26 on Friday. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $10.02 billion, a P/E ratio of -165.47 and a beta of 1.88. The firm has a 50-day moving average price of $51.65 and a two-hundred day moving average price of $56.82. MP Materials Corp. has a 12-month low of $37.81 and a 12-month high of $100.25.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The business had revenue of $108.49 million for the quarter, compared to the consensus estimate of $96.89 million. During the same quarter in the prior year, the business posted ($0.13) earnings per share. The firm's quarterly revenue was up 89.0% compared to the same quarter last year. Analysts anticipate that MP Materials Corp. will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MP shares. Wedbush boosted their target price on MP Materials from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Wall Street Zen cut MP Materials from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Needham & Company LLC reduced their price objective on shares of MP Materials from $81.00 to $73.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Barclays decreased their target price on MP Materials from $69.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, July 16th. Finally, Canaccord Genuity Group set a $82.00 target price on MP Materials in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate 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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