American Century Companies Inc. Boosts Holdings in MP Materials Corp. $MP

Key Points

• American Century Companies Inc. increased its stake in MP Materials Corp. by 9.5% during the first quarter, now holding 46,112 shares valued at approximately $1.13 million.
• The company's stock price recently traded down to $64.11, with a substantial trading volume of over 8 million shares, compared to its average volume of over 11 million.
• MP Materials reported a quarterly revenue increase of 83.6% year-over-year, posting $57.39 million, and surpassed earnings estimates with a reported EPS of ($0.13).

American Century Companies Inc. raised its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 9.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,112 shares of the company's stock after purchasing an additional 4,018 shares during the quarter. American Century Companies Inc.'s holdings in MP Materials were worth $1,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MP. NBC Securities Inc. lifted its holdings in MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,199 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in MP Materials in the first quarter worth $35,000. Banque Cantonale Vaudoise bought a new position in MP Materials in the first quarter worth $35,000. IFP Advisors Inc raised its position in shares of MP Materials by 47.8% in the 1st quarter. IFP Advisors Inc now owns 2,970 shares of the company's stock worth $76,000 after purchasing an additional 960 shares during the last quarter. Finally, CX Institutional purchased a new position in shares of MP Materials in the 1st quarter worth about $79,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials 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 transaction, the chief operating officer directly owned 1,284,409 shares of the company's stock, valued at $92,503,136.18. The trade was a 10.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.50% of the stock is currently owned by insiders.

MP Materials Stock Performance

NYSE:MP traded down $1.23 on Friday, hitting $62.95. The stock had a trading volume of 6,883,745 shares, compared to its average volume of 9,271,195. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of -99.92 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. The business's 50-day simple moving average is $59.47 and its two-hundred day simple moving average is $36.99. MP Materials Corp. has a 52-week low of $13.20 and a 52-week high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $57.39 million for the quarter, compared to analysts' expectations of $44.84 million. During the same period in the previous year, the firm earned ($0.17) EPS. The business's quarterly revenue was up 83.6% on a year-over-year basis. As a group, research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Benchmark reiterated a "buy" rating on shares of MP Materials in a report on Friday, August 29th. Robert W. Baird lifted their price objective on MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. DA Davidson lifted their price objective on MP Materials from $32.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday. Cowen reiterated a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Finally, Jefferies Financial Group upgraded MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, MP Materials presently has an average rating of "Moderate Buy" and an average price target of $66.88.

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.