Lbp Am Sa Invests $683,000 in MP Materials Corp. $MP

Key Points

• Lbp Am Sa invested approximately $683,000 in MP Materials Corp., acquiring 20,544 shares in the company's stock during the 2nd quarter.
• Institutional investors currently own about 52.55% of MP Materials, with several firms recently increasing their stakes in the company.
• Wall Street analysts have shown optimism towards MP Materials, with target price increases from firms like DA Davidson and JPMorgan Chase, indicating a consensus target price of $68.33.

Lbp Am Sa bought a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,544 shares of the company's stock, valued at approximately $683,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of MP. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of MP Materials by 2.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company's stock valued at $412,000 after purchasing an additional 358 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MP Materials by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company's stock valued at $265,000 after buying an additional 479 shares during the last quarter. CWM LLC grew its holdings in MP Materials by 16.5% during the 1st quarter. CWM LLC now owns 3,566 shares of the company's stock valued at $87,000 after buying an additional 505 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in MP Materials by 168.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock valued at $27,000 after buying an additional 506 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in MP Materials by 51.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 1,510 shares of the company's stock worth $50,000 after acquiring an additional 510 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

Insider Transactions at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the transaction, the chief operating officer directly owned 1,284,409 shares in the company, valued at $92,503,136.18. This represents a 10.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MP. DA Davidson increased their target price on MP Materials from $32.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Morgan Stanley set a $65.00 price objective on shares of MP Materials and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Benchmark restated a "buy" rating on shares of MP Materials in a report on Friday, August 29th. JPMorgan Chase & Co. upped their target price 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. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of MP Materials in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $68.33.

MP Materials Price Performance

MP opened at $71.37 on Friday. The business has a fifty day moving average of $68.73 and a 200 day moving average of $43.34. The stock has a market cap of $12.64 billion, a P/E ratio of -113.29 and a beta of 2.32. The company has a quick ratio of 3.12, a current ratio of 3.60 and a debt-to-equity ratio of 0.83. MP Materials Corp. has a 52-week low of $15.56 and a 52-week high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. The business 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 revenue for the quarter was up 83.6% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share. As a group, sell-side analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

MP Materials 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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