Chung Wu Investment Group LLC Acquires New Shares in MP Materials Corp. $MP

Key Points

• Chung Wu Investment Group LLC has acquired 4,100 shares of MP Materials Corp., valued at approximately $136,000, during the second quarter.
• MP Materials has received upgraded ratings from multiple research firms, with a consensus rating of "Moderate Buy" and an average target price of $68.33.
• Insider selling occurred as COO Michael Stuart Rosenthal sold 150,000 shares at an average price of $72.02, decreasing his position by 10.46%.

Chung Wu Investment Group LLC acquired a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,100 shares of the company's stock, valued at approximately $136,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Driehaus Capital Management LLC bought a new stake in shares of MP Materials in the first quarter worth about $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in MP Materials by 429.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company's stock worth $37,839,000 after purchasing an additional 1,257,282 shares in the last quarter. Vanguard Group Inc. increased its stake in MP Materials by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock worth $333,503,000 after purchasing an additional 942,105 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in MP Materials by 73.7% during the 1st quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company's stock worth $40,455,000 after buying an additional 703,042 shares during the period. Finally, Invesco Ltd. lifted its stake in 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 buying an additional 536,522 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MP has been the subject of several research reports. Wall Street Zen raised shares of MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Morgan Stanley set a $65.00 price objective on shares of MP Materials and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Benchmark reiterated a "buy" rating on shares of MP Materials in a report on Friday, August 29th. Cowen reissued a "buy" rating on shares of MP Materials in a research note on Friday, August 8th. Finally, Cfra Research upgraded MP Materials to a "moderate buy" rating in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MP Materials presently has a consensus rating of "Moderate Buy" and an average target price of $68.33.

Insider Buying and Selling at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the transaction, the chief operating officer owned 1,284,409 shares of the company's stock, valued at $92,503,136.18. The trade was a 10.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.60% of the stock is owned by company insiders.

MP Materials Stock Up 0.6%

MP Materials stock opened at $71.37 on Monday. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. MP Materials Corp. has a 1-year low of $15.56 and a 1-year high of $82.50. The company has a fifty day simple moving average of $68.73 and a 200 day simple moving average of $43.58. The company has a market cap of $12.64 billion, a P/E ratio of -113.29 and a beta of 2.32.

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