Jump Financial LLC Invests $962,000 in MP Materials Corp. $MP

Jump Financial LLC acquired a new position in MP Materials Corp. (NYSE:MP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 39,400 shares of the company's stock, valued at approximately $962,000.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of MP Materials by 52.3% in the first quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock worth $140,000 after purchasing an additional 1,975 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of MP Materials by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,093,057 shares of the company's stock worth $26,682,000 after purchasing an additional 13,389 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of MP Materials in the first quarter worth about $213,000. LPL Financial LLC raised its stake in shares of MP Materials by 5.0% in the first quarter. LPL Financial LLC now owns 132,796 shares of the company's stock worth $3,242,000 after purchasing an additional 6,361 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of MP Materials in the first quarter worth about $1,460,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

MP Materials Stock Down 3.1%

Shares of MP opened at $71.19 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. MP Materials Corp. has a 12 month low of $12.39 and a 12 month high of $82.50. The stock's 50 day moving average is $56.95 and its two-hundred day moving average is $35.80. The firm has a market cap of $12.61 billion, a P/E ratio of -113.00 and a beta of 2.30.

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. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The company had revenue of $57.39 million for the quarter, compared to analyst estimates of $44.84 million. During the same period last year, the company earned ($0.17) earnings per share. MP Materials's quarterly revenue was up 83.6% compared to the same quarter last year. Analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the firm's 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 sale, the chief operating officer directly owned 1,284,409 shares of the company's stock, valued at approximately $92,503,136.18. This trade represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MP. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Jefferies Financial Group raised MP Materials from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, August 1st. Robert W. Baird raised their target price on MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Cowen reaffirmed a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Finally, Cfra Research raised MP Materials to a "moderate buy" rating in a report on Monday, August 11th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, MP Materials has a consensus rating of "Moderate Buy" and a consensus target price of $60.63.

MP Materials Company 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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