Leonteq Securities AG Makes New Investment in MP Materials Corp. $MP

Key Points

• Leonteq Securities AG opened a new position in MP Materials during the fourth quarter, buying 48,515 shares worth about $2.45 million.
• MP Materials recently reported better-than-expected quarterly results, with EPS of $0.03 versus a loss expected and revenue of $90.65 million, up 49.1% year over year.
• Analyst sentiment is mostly positive: the stock carries an average Buy rating and an average price target of $81, though one firm still has a Sell rating.

Leonteq Securities AG bought a new position in MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 48,515 shares of the company's stock, valued at approximately $2,451,000.

A number of other large investors have also recently made changes to their positions in the stock. Costello Asset Management INC grew its stake in shares of MP Materials by 15.0% in the fourth quarter. Costello Asset Management INC now owns 1,300 shares of the company's stock worth $66,000 after acquiring an additional 170 shares during the period. Composition Wealth LLC grew its position in MP Materials by 0.9% during the fourth quarter. Composition Wealth LLC now owns 18,334 shares of the company's stock valued at $926,000 after buying an additional 172 shares during the period. IMG Wealth Management Inc. boosted its position in shares of MP Materials by 4.7% in the third quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company's stock worth $298,000 after purchasing an additional 200 shares during the period. ARS Investment Partners LLC boosted its position in shares of MP Materials by 1.0% in the fourth quarter. ARS Investment Partners LLC now owns 19,980 shares of the company's stock worth $1,009,000 after purchasing an additional 200 shares during the period. Finally, Cresset Asset Management LLC boosted its position in shares of MP Materials by 1.0% in the second quarter. Cresset Asset Management LLC now owns 21,444 shares of the company's stock worth $713,000 after purchasing an additional 204 shares during the period. 52.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MP. Weiss Ratings reissued a "sell (d-)" rating on shares of MP Materials in a report on Tuesday, April 21st. TD Securities raised shares of MP Materials to a "strong-buy" rating in a research note on Monday, February 9th. Canaccord Genuity Group set a $82.00 price objective on shares of MP Materials in a research report on Friday, May 8th. Morgan Stanley upped their price target on shares of MP Materials from $62.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Finally, William Blair restated an "outperform" rating on shares of MP Materials in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $81.00.

Insider Activity at MP Materials

In related news, COO Michael Stuart Rosenthal acquired 17,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $56.62 per share, with a total value of $962,540.00. Following the transaction, the chief operating officer directly owned 1,333,673 shares of the company's stock, valued at $75,512,565.26. This trade represents a 1.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 46,000 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $60.00, for a total transaction of $2,760,000.00. Following the completion of the transaction, the chief financial officer owned 129,017 shares in the company, valued at approximately $7,741,020. This trade represents a 26.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 666,000 shares of company stock valued at $43,103,382 in the last three months. 8.20% of the stock is owned by insiders.

MP Materials Stock Performance

MP stock opened at $56.29 on Thursday. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of -134.01 and a beta of 1.90. The firm has a 50-day simple moving average of $58.62 and a two-hundred day simple moving average of $59.14. MP Materials Corp. has a one year low of $18.64 and a one year 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.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The business had revenue of $90.65 million during the quarter, compared to analyst estimates of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The company's quarterly revenue was up 49.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.12) earnings per share. On average, equities analysts forecast that MP Materials Corp. will post 0.1 EPS for the current fiscal year.

MP Materials Company Profile

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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