Concurrent Investment Advisors LLC Boosts Stake in MP Materials Corp. $MP

Key Points

• Concurrent Investment Advisors LLC boosted its stake in MP Materials by 916.5% in Q4, adding 75,210 shares to hold 83,416 shares worth about $4.21 million at quarter-end.
• Insiders have been active sellers—346,000 shares sold in the last 90 days (CFO sold 46,000 at $60; CEO sold 259,179 at $64.03)—though the CEO still holds roughly 12.5 million shares and insiders collectively own 12.6%.
• Analysts show a mixed but overall positive view with an average "Buy" consensus and a $79.08 consensus price target, while individual ratings range from strong-buy to sell.

Concurrent Investment Advisors LLC increased its position in MP Materials Corp. (NYSE:MP - Free Report) by 916.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 83,416 shares of the company's stock after purchasing an additional 75,210 shares during the period. Concurrent Investment Advisors LLC's holdings in MP Materials were worth $4,214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MP. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of MP Materials in the 4th quarter valued at about $26,000. Financial Consulate Inc. lifted its holdings in shares of MP Materials by 555.3% in the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company's stock valued at $28,000 after purchasing an additional 472 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of MP Materials by 4,600.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 564 shares of the company's stock valued at $38,000 after purchasing an additional 552 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of MP Materials by 75.9% in the 3rd quarter. Bessemer Group Inc. now owns 642 shares of the company's stock valued at $43,000 after purchasing an additional 277 shares during the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in shares of MP Materials by 106.2% in the 3rd quarter. Montag A & Associates Inc. now owns 635 shares of the company's stock valued at $43,000 after purchasing an additional 327 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MP has been the subject of several research reports. TD Securities raised MP Materials to a "strong-buy" rating in a report on Monday, February 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of MP Materials in a report on Tuesday, April 21st. Wall Street Zen raised MP Materials from a "sell" rating to a "hold" rating in a research note on Sunday, March 8th. Wedbush initiated coverage on MP Materials in a research note on Monday, April 20th. They set an "outperform" rating and a $90.00 price objective for the company. Finally, DA Davidson reaffirmed a "buy" rating and set a $82.00 price objective on shares of MP Materials in a research note on Wednesday, March 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MP Materials presently has an average rating of "Buy" and a consensus price target of $79.08.

Insider Activity at MP Materials

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

MP Materials Stock Up 6.9%

MP opened at $64.93 on Tuesday. The business has a 50 day moving average price of $57.25 and a two-hundred day moving average price of $60.55. The company has a quick ratio of 6.67, a current ratio of 7.24 and a debt-to-equity ratio of 0.47. The company has a market cap of $11.54 billion, a PE ratio of -124.87 and a beta of 1.67. MP Materials Corp. has a 52 week low of $18.64 and a 52 week high of $100.25.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.02 by $0.07. The firm had revenue of $52.69 million during the quarter, compared to the consensus estimate of $76.06 million. MP Materials had a negative return on equity of 4.28% and a negative net margin of 38.26%.The firm's revenue was down 13.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.12) EPS. As a group, research analysts anticipate that MP Materials Corp. will post 0.1 EPS for the current year.

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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