Foundations Investment Advisors LLC Makes New Investment in MP Materials Corp. $MP

Key Points

• Foundations Investment Advisors LLC opened a new position in MP Materials during the fourth quarter, buying 16,840 shares worth about $851,000.
• Institutional ownership in MP Materials remains substantial, with hedge funds and other investors holding 52.55% of the stock.
• Analysts are broadly bullish on the company: MP Materials has an average rating of “Buy” and a consensus price target of about $80.08, while its latest quarterly results beat expectations on both earnings and revenue.

Foundations Investment Advisors LLC acquired a new position in MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 16,840 shares of the company's stock, valued at approximately $851,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisory Group LLC purchased a new stake in MP Materials in the 4th quarter worth approximately $9,702,000. Polianta Ltd purchased a new position in shares of MP Materials in the 4th quarter valued at approximately $1,227,000. South Dakota Investment Council purchased a new position in shares of MP Materials in the 3rd quarter valued at approximately $1,617,000. Dorsey Wright & Associates lifted its stake in shares of MP Materials by 84.1% in 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 shares of MP Materials in the 3rd quarter valued at approximately $3,505,000. Hedge funds and other institutional investors own 52.55% of the company's stock.

Insider Buying and Selling at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 20,000 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief financial officer owned 109,017 shares of the company's stock, valued at approximately $8,176,275. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James H. Litinsky sold 50,000 shares of the business's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $64.58, for a total value of $3,229,000.00. Following the sale, the chief executive officer directly owned 11,805,965 shares of the company's stock, valued at $762,429,219.70. This represents a 0.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,066,000 shares of company stock valued at $69,329,207. Company insiders own 8.20% of the company's stock.

Wall Street Analysts Forecast Growth

MP has been the subject of a number of recent research reports. TD Securities upgraded MP Materials to a "strong-buy" rating in a research note on Monday, February 9th. Morgan Stanley lifted their price objective on MP Materials from $62.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Barclays initiated coverage on MP Materials in a research note on Thursday, May 21st. They set an "overweight" rating and a $69.00 price objective for the company. DA Davidson reiterated a "buy" rating and set a $82.00 price objective on shares of MP Materials in a research note on Wednesday, May 20th. Finally, Wedbush lifted their price objective on MP Materials from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Three equities research 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 MarketBeat, the company has an average rating of "Buy" and an average price target of $80.08.

MP Materials Stock Performance

NYSE:MP opened at $64.57 on Monday. The stock has a 50-day simple moving average of $59.36 and a two-hundred day simple moving average of $59.49. MP Materials Corp. has a 52-week low of $19.60 and a 52-week high of $100.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18. The firm has a market capitalization of $11.50 billion, a PE ratio of -153.75 and a beta of 1.86.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $74.82 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. MP Materials's revenue for the quarter was up 49.1% on a year-over-year basis. Analysts forecast that MP Materials Corp. will post -0.04 EPS for the current year.

About MP Materials

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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