Lisanti Capital Growth LLC Acquires New Shares in MP Materials Corp. (NYSE:MP)

Lisanti Capital Growth LLC acquired a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 136,705 shares of the company's stock, valued at approximately $3,337,000. Lisanti Capital Growth LLC owned about 0.08% of MP Materials at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. lifted its stake in MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 1,199 shares during the period. Quadrant Capital Group LLC raised its holdings in MP Materials by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after purchasing an additional 701 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of MP Materials in the 4th quarter worth about $40,000. IMG Wealth Management Inc. purchased a new stake in shares of MP Materials in the 4th quarter worth about $66,000. Finally, CX Institutional bought a new stake in shares of MP Materials during the 1st quarter valued at about $79,000. 52.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on MP. Morgan Stanley raised shares of MP Materials from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $23.00 to $34.00 in a research note on Thursday, June 5th. DA Davidson increased their target price on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Robert W. Baird lifted their price target on MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. JPMorgan Chase & Co. reduced their price target on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Finally, BMO Capital Markets increased their price objective on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday, March 20th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, MP Materials currently has an average rating of "Moderate Buy" and a consensus price target of $27.44.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the completion of the sale, the chief executive officer directly owned 13,643,076 shares in the company, valued at approximately $369,454,498.08. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.60% of the stock is currently owned by insiders.

MP Materials Stock Up 2.5%

Shares of MP traded up $0.80 during mid-day trading on Wednesday, reaching $32.29. The company had a trading volume of 4,774,335 shares, compared to its average volume of 4,700,600. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.58 and a current ratio of 4.12. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of -49.68 and a beta of 2.25. The firm has a 50-day moving average price of $26.07 and a 200 day moving average price of $23.72. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $39.10.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The company had revenue of $60.81 million for the quarter, compared to analysts' expectations of $64.74 million. During the same quarter in the previous year, the firm posted ($0.04) EPS. The firm's quarterly revenue was up 24.9% compared to the same quarter last year. On average, sell-side analysts forecast 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.