Corient Private Wealth LLC Grows Holdings in MP Materials Corp. $MP

Key Points

• Corient Private Wealth LLC increased its stake in MP Materials by 83% in the fourth quarter, bringing its holdings to 39,047 shares worth about $1.97 million.
• MP Materials has seen broad institutional interest, with several hedge funds and investment firms adding positions; overall, 52.55% of the stock is owned by institutions.
• Wall Street sentiment remains mostly positive, with an average “Buy” rating and a $80.14 average price target, even as the stock traded at $54.74 and the company reported mixed insider activity.

Corient Private Wealth LLC grew its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 83.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,047 shares of the company's stock after purchasing an additional 17,708 shares during the period. Corient Private Wealth LLC's holdings in MP Materials were worth $1,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisory Group LLC bought a new stake in shares of MP Materials in the fourth quarter valued at about $9,702,000. Polianta Ltd bought a new position in MP Materials during the 4th quarter worth about $1,227,000. South Dakota Investment Council bought a new position in MP Materials during the 3rd quarter worth about $1,617,000. Dorsey Wright & Associates increased its position in MP Materials by 84.1% during the 3rd quarter. Dorsey Wright & Associates now owns 118,252 shares of the company's stock valued at $7,931,000 after purchasing an additional 54,031 shares during the period. Finally, Intech Investment Management LLC purchased a new position in MP Materials during the 3rd quarter valued at about $3,505,000. 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MP Materials in a research report on Tuesday, April 21st. Barclays began coverage on shares of MP Materials in a report on Thursday, May 21st. They set an "overweight" rating and a $69.00 price objective on the stock. Needham & Company LLC initiated coverage on shares of MP Materials in a research note on Monday, June 1st. They issued a "buy" rating and a $81.00 price objective for the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of MP Materials in a report on Tuesday, May 12th. Finally, Morgan Stanley increased their target price on MP Materials from $62.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $80.14.

MP Materials Trading Up 1.6%

Shares of NYSE:MP opened at $54.74 on Tuesday. The business's 50-day moving average is $62.23 and its 200 day moving average is $59.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.18 and a quick ratio of 6.58. MP Materials Corp. has a 1 year low of $29.58 and a 1 year high of $100.25. The firm has a market capitalization of $9.75 billion, a P/E ratio of -130.35 and a beta of 1.86.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The business had revenue of $90.65 million during the quarter, compared to the consensus estimate of $74.82 million. During the same quarter last year, the company earned ($0.12) earnings per share. The company's quarterly revenue was up 49.1% on a year-over-year basis. On average, research analysts predict that MP Materials Corp. will post -0.04 earnings per share for the current fiscal year.

Insider Activity at MP Materials

In related news, COO Michael Stuart Rosenthal bought 17,000 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $56.62 per share, with a total value of $962,540.00. Following the transaction, the chief operating officer owned 1,333,673 shares in the company, valued at approximately $75,512,565.26. This trade represents a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 20,000 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the transaction, the chief financial officer owned 109,017 shares in the company, valued at $8,176,275. The trade was a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,205,167 shares of company stock valued at $79,371,654 in the last three months. 8.20% of the stock is owned by insiders.

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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