Gotham Asset Management LLC Raises Stock Position in MP Materials Corp. $MP

Key Points

• Gotham Asset Management LLC increased its holdings in MP Materials Corp. by 7.2%, owning 570,917 shares valued at approximately $13.94 million, as per their recent SEC filing.
• Insider activity saw COO Michael Stuart Rosenthal sell 150,000 shares for about $10.8 million, resulting in a 10.46% decrease in his ownership.
• MP Materials reported a revenue of $57.39 million for the last quarter, a substantial 83.6% year-over-year increase, while analysts are forecasting a current year EPS of -$0.19.

Gotham Asset Management LLC lifted its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 7.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 570,917 shares of the company's stock after acquiring an additional 38,155 shares during the period. Gotham Asset Management LLC owned approximately 0.35% of MP Materials worth $13,936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. raised its position in MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,199 shares in the last quarter. MAI Capital Management increased its position in shares of MP Materials by 132.7% during the 1st quarter. MAI Capital Management now owns 1,403 shares of the company's stock valued at $34,000 after purchasing an additional 800 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of MP Materials during the 1st quarter valued at about $35,000. Banque Cantonale Vaudoise bought a new stake in MP Materials in the 1st quarter worth approximately $35,000. Finally, IFP Advisors Inc lifted its position in MP Materials by 47.8% in the 1st quarter. IFP Advisors Inc now owns 2,970 shares of the company's stock worth $76,000 after buying an additional 960 shares during the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

MP Materials Trading Down 1.2%

MP traded down $0.73 during trading on Wednesday, hitting $62.42. 7,532,968 shares of the stock traded hands, compared to its average volume of 9,031,854. The firm has a market capitalization of $11.05 billion, a P/E ratio of -99.08 and a beta of 2.32. MP Materials Corp. has a 12-month low of $13.40 and a 12-month high of $82.50. 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 firm has a 50-day moving average of $61.90 and a 200 day moving average of $38.07.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. The firm 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 company's quarterly revenue was up 83.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) earnings per share. Equities research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Buying and Selling

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the completion of the sale, the chief operating officer owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. This trade represents a 10.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on MP shares. Canaccord Genuity Group increased their price target on shares of MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, August 8th. DA Davidson upped their price objective on shares of MP Materials from $32.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Robert W. Baird increased their target price on shares of MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Morgan Stanley set a $65.00 price target on shares of MP Materials and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $66.88.

About MP Materials

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.