MP Materials Corp. $MP Shares Acquired by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in MP Materials Corp. by 47.3% during the second quarter, owning a total of 38,622 shares worth approximately $1,285,000.
• The company reported a revenue of $57.39 million for the last quarter, which was higher than analyst expectations of $44.84 million, indicating an 83.6% increase compared to the same quarter last year.
• MP Materials has an average rating of "Moderate Buy" from analysts, with a consensus price target of $68.33.

Knights of Columbus Asset Advisors LLC increased its stake in MP Materials Corp. (NYSE:MP - Free Report) by 47.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,622 shares of the company's stock after acquiring an additional 12,401 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in MP Materials were worth $1,285,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in shares of MP Materials in the second quarter valued at $25,000. AdvisorNet Financial Inc raised its stake in shares of MP Materials by 168.7% in the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock valued at $27,000 after acquiring an additional 506 shares in the last quarter. NBC Securities Inc. raised its stake in shares of MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after acquiring an additional 1,199 shares in the last quarter. MAI Capital Management raised its stake in shares of MP Materials by 132.7% in the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock valued at $34,000 after acquiring an additional 800 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of MP Materials in the first quarter valued at $35,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Stock Performance

Shares of MP stock opened at $73.80 on Wednesday. The stock's 50-day moving average is $69.20 and its two-hundred day moving average is $44.13. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of -117.15 and a beta of 2.32. MP Materials Corp. has a 1 year low of $15.56 and a 1 year high of $82.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted ($0.17) earnings per share. The business'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 year.

Insider Activity

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the firm's 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 owned 1,284,409 shares of the company's stock, valued at $92,503,136.18. This trade represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MP has been the topic of a number of analyst reports. Daiwa America upgraded MP Materials to a "strong-buy" rating in a research note on Monday, September 22nd. Canaccord Genuity Group raised their price target on MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Cowen restated a "buy" rating on shares of MP Materials in a research note on Friday, August 8th. Cfra Research upgraded MP Materials to a "moderate buy" rating in a research note on Monday, August 11th. Finally, Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $68.33.

About MP Materials

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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