J. Safra Sarasin Holding AG Sells 12,168 Shares of MP Materials Corp. $MP

Key Points

• J. Safra Sarasin Holding AG reduced its stake in MP Materials Corp. by 26.6%, selling 12,168 shares and owning 33,542 shares valued at approximately $1.12 million as of the latest SEC filing.
• Analysts have updated their ratings on MP Materials, with Deutsche Bank raising the price target from $20.00 to $69.00, and DA Davidson increasing it from $32.00 to $82.00.
• MP Materials reported a quarterly revenue of $57.39 million, surpassing estimates and reflecting an 83.6% year-over-year increase despite reporting a negative EPS of ($0.13).

J. Safra Sarasin Holding AG lessened its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 26.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,542 shares of the company's stock after selling 12,168 shares during the quarter. J. Safra Sarasin Holding AG's holdings in MP Materials were worth $1,116,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ballentine Partners LLC bought a new stake in shares of MP Materials in the second quarter valued at about $241,000. GAMMA Investing LLC raised its stake in MP Materials by 52.3% in the first quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock valued at $140,000 after purchasing an additional 1,975 shares in the last quarter. Strs Ohio acquired a new position in MP Materials in the first quarter valued at about $687,000. Exchange Traded Concepts LLC acquired a new position in MP Materials in the second quarter valued at about $7,479,000. Finally, Amundi raised its stake in MP Materials by 561.2% in the first quarter. Amundi now owns 80,662 shares of the company's stock valued at $2,002,000 after purchasing an additional 68,462 shares in the last quarter. Institutional investors own 52.55% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on MP. Wall Street Zen raised MP Materials from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price target on MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. DA Davidson boosted their price target on MP Materials from $32.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Daiwa Capital Markets began coverage on MP Materials in a research note on Monday, September 22nd. They issued an "outperform" rating and a $80.00 price target for the company. Finally, Jefferies Financial Group raised MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.33.

MP Materials Stock Up 0.6%

Shares of NYSE MP opened at $71.37 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. The company has a market cap of $12.64 billion, a price-to-earnings ratio of -113.29 and a beta of 2.32. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $82.50. The stock has a 50-day moving average price of $68.73 and a two-hundred day moving average price of $43.46.

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, topping 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 return on equity of 9.34% and a negative net margin of 41.87%.The business's quarterly revenue was up 83.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. As a group, analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. The trade was a 10.46% 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. Company insiders own 9.50% of the company's stock.

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.

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