D.A. Davidson & CO. Has $3.51 Million Stake in MP Materials Corp. $MP

Key Points

• D.A. Davidson & Co. boosted its stake in MP Materials by 240.8% in Q4 to 69,429 shares, valued at about $3.51 million.
• Insider selling has been significant: CEO James Litinsky sold 259,179 shares for roughly $16.6 million, with insiders offloading 346,000 shares (~$21.97M) in the last 90 days and now owning 9.5% of the stock.
• Analysts hold a consensus Buy rating with a $79.08 target, while MP posted an EPS beat ($0.09 vs. $0.02) but saw revenue decline to $52.7M (down 13.6%) and continues to report negative margins.

D.A. Davidson & CO. grew its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 240.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,429 shares of the company's stock after acquiring an additional 49,057 shares during the quarter. D.A. Davidson & CO.'s holdings in MP Materials were worth $3,508,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Wolff Wiese Magana LLC raised its stake in MP Materials by 28.1% during the third quarter. Wolff Wiese Magana LLC now owns 806 shares of the company's stock worth $54,000 after acquiring an additional 177 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in MP Materials by 1.0% during the third quarter. Miracle Mile Advisors LLC now owns 18,162 shares of the company's stock worth $1,218,000 after acquiring an additional 188 shares in the last quarter. IMG Wealth Management Inc. raised its stake in MP Materials by 4.7% during the third quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company's stock worth $298,000 after acquiring an additional 200 shares in the last quarter. Rothschild Investment LLC raised its stake in MP Materials by 4.0% during the third quarter. Rothschild Investment LLC now owns 5,252 shares of the company's stock worth $352,000 after acquiring an additional 202 shares in the last quarter. Finally, Cresset Asset Management LLC raised its stake in MP Materials by 1.0% during the second quarter. Cresset Asset Management LLC now owns 21,444 shares of the company's stock worth $713,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen raised MP Materials from a "sell" rating to a "hold" rating in a research note on Sunday, March 8th. DA Davidson reissued a "buy" rating and set a $82.00 target price on shares of MP Materials in a research note on Wednesday, March 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of MP Materials in a research note on Tuesday, April 21st. TD Securities raised MP Materials to a "strong-buy" rating in a research note on Monday, February 9th. Finally, Morgan Stanley lowered their price objective on MP Materials from $71.00 to $62.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Two investment 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, the stock has a consensus rating of "Buy" and a consensus target price of $79.08.

MP Materials Stock Performance

MP Materials stock opened at $66.14 on Friday. The business has a 50 day moving average of $57.56 and a 200-day moving average of $60.47. MP Materials Corp. has a 1 year low of $18.64 and a 1 year high of $100.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.24 and a quick ratio of 6.67. The company has a market capitalization of $11.75 billion, a P/E ratio of -127.19 and a beta of 1.67.

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

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 259,179 shares of the company's 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Corbett sold 46,000 shares of the company's stock in a transaction that occurred on 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 directly owned 129,017 shares of the company's stock, valued at $7,741,020. This represents a 26.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 346,000 shares of company stock valued at $21,969,816 in the last ninety days. 9.50% of the stock is currently 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.

Want to see what other hedge funds are holding MP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MP Materials Corp. (NYSE:MP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.