Calamos Advisors LLC Has $2.69 Million Holdings in MP Materials Corp. $MP

Key Points

• Calamos Advisors LLC cut its stake in MP Materials by 78.7% in Q4, selling 196,218 shares and retaining 53,170 shares worth about $2.69 million.
• CEO James H. Litinsky sold 259,179 shares under a pre‑arranged Rule 10b5‑1 plan and insiders have sold 346,000 shares (~$21.97M) in the last 90 days, leaving insiders with roughly 12.6% ownership.
• MP beat EPS estimates last quarter but reported a 13.6% revenue decline and negative margins; the stock trades near $60.82 and carries a consensus Buy rating with an average price target of $79.08.

Calamos Advisors LLC lessened its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 78.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,170 shares of the company's stock after selling 196,218 shares during the quarter. Calamos Advisors LLC's holdings in MP Materials were worth $2,686,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of MP Materials during the fourth quarter valued at $26,000. Financial Consulate Inc. increased its position in shares of MP Materials by 555.3% during the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company's stock worth $28,000 after purchasing an additional 472 shares in the last quarter. SJS Investment Consulting Inc. increased its position in shares of MP Materials by 4,600.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 564 shares of the company's stock worth $38,000 after purchasing an additional 552 shares in the last quarter. Bessemer Group Inc. increased its position in shares of MP Materials by 75.9% during the 3rd quarter. Bessemer Group Inc. now owns 642 shares of the company's stock worth $43,000 after purchasing an additional 277 shares in the last quarter. Finally, Montag A & Associates Inc. increased its position in shares of MP Materials by 106.2% during the 3rd quarter. Montag A & Associates Inc. now owns 635 shares of the company's stock worth $43,000 after purchasing an additional 327 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors.

MP Materials Price Performance

Shares of MP stock opened at $60.82 on Monday. MP Materials Corp. has a 1 year low of $18.64 and a 1 year high of $100.25. The firm's 50 day moving average is $57.11 and its 200-day moving average is $60.60. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of -116.96 and a beta of 1.67. The company has a current ratio of 7.24, a quick ratio of 6.67 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.07. The business had revenue of $52.69 million during the quarter, compared to analyst estimates of $76.06 million. MP Materials had a negative net margin of 38.26% and a negative return on equity of 4.28%. MP Materials's revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) earnings per share. Sell-side analysts forecast that MP Materials Corp. will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on MP shares. Wedbush started coverage on shares of MP Materials in a research report on Monday, April 20th. They issued an "outperform" rating and a $90.00 price target on the stock. William Blair reiterated an "outperform" rating on shares of MP Materials in a research note on Wednesday, March 4th. Morgan Stanley decreased their price target on MP Materials from $71.00 to $62.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. Finally, DA Davidson reaffirmed a "buy" rating and set a $82.00 price target on shares of MP Materials in a report on Wednesday, March 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MP Materials presently has a consensus rating of "Buy" and an average price target of $79.08.

Insiders Place Their Bets

In other news, CEO James H. Litinsky sold 259,179 shares of the company's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $64.03, for a total transaction of $16,595,231.37. Following the transaction, the chief executive officer owned 12,505,965 shares of the company's stock, valued at $800,756,938.95. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Corbett sold 46,000 shares of the firm's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $60.00, for a total value of $2,760,000.00. Following the completion of the transaction, the chief financial officer owned 129,017 shares in the company, valued at approximately $7,741,020. This represents a 26.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 346,000 shares of company stock valued at $21,969,816. 12.60% of the stock is currently owned by corporate insiders.

MP Materials Company 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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