Cutler Investment Counsel LLC Acquires Shares of 8,635 MP Materials Corp. $MP

Key Points

• Cutler Investment Counsel LLC has acquired 8,635 shares of MP Materials Corp., worth approximately $287,000, highlighting increased institutional interest in the company during the 2nd quarter.
• MP Materials' stock price is currently around $95.03 with a market capitalization of $16.83 billion, showing a significant increase of 21.3% recently.
• The company reported an earnings per share (EPS) of ($0.13) for the last quarter, exceeding analysts' expectations, alongside a year-over-year revenue increase of 83.6%.

Cutler Investment Counsel LLC bought a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,635 shares of the company's stock, valued at approximately $287,000.

Several other hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its stake in MP Materials by 2.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company's stock worth $412,000 after acquiring an additional 358 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of MP Materials by 3.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,400 shares of the company's stock worth $413,000 after purchasing an additional 458 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of MP Materials by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company's stock worth $265,000 after purchasing an additional 479 shares during the period. CWM LLC boosted its holdings in shares of MP Materials by 14.1% in the 2nd quarter. CWM LLC now owns 4,070 shares of the company's stock worth $135,000 after purchasing an additional 504 shares during the period. Finally, AdvisorNet Financial Inc lifted its position in MP Materials by 168.7% in the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock worth $27,000 after buying an additional 506 shares during the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.60% of the stock is currently owned by insiders.

MP Materials Trading Up 21.3%

Shares of NYSE MP opened at $95.03 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The stock has a market capitalization of $16.83 billion, a P/E ratio of -150.84 and a beta of 2.32. MP Materials Corp. has a 1-year low of $15.56 and a 1-year high of $98.97. The business has a fifty day moving average price of $70.50 and a 200 day moving average price of $45.73.

MP Materials (NYSE:MP - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. The business 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 firm's revenue was up 83.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. Equities research analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MP shares. JPMorgan Chase & Co. raised their price target on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Morgan Stanley set a $69.00 price target on shares of MP Materials in a report on Wednesday, October 8th. Daiwa Capital Markets assumed coverage on shares of MP Materials in a report on Monday, September 22nd. They set an "outperform" rating and a $80.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Finally, Jefferies Financial Group upgraded MP Materials from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, August 1st. One investment 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 issued a Sell rating to the company. According to MarketBeat, MP Materials currently has an average rating of "Moderate Buy" and a consensus price target of $74.00.

MP Materials Profile

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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