MP Materials Corp. $MP Shares Bought by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. increased its stake in MP Materials Corp. by 7.3% during Q2, holding 157,261 shares valued at approximately $5.23 million.
• COO Michael Stuart Rosenthal sold 150,000 shares for about $10.8 million, reducing his ownership by 10.46% to 1.28 million shares.
• MP Materials reported Q2 earnings of ($0.13) per share, surpassing estimates, with revenue increasing 83.6% year-over-year to $57.39 million.

Shell Asset Management Co. raised its position in MP Materials Corp. (NYSE:MP - Free Report) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,261 shares of the company's stock after purchasing an additional 10,717 shares during the quarter. Shell Asset Management Co. owned about 0.10% of MP Materials worth $5,232,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ballentine Partners LLC acquired a new position in MP Materials in the 2nd quarter valued at about $241,000. GAMMA Investing LLC boosted its holdings in MP Materials by 52.3% in the 1st quarter. GAMMA Investing LLC now owns 5,750 shares of the company's stock valued at $140,000 after purchasing an additional 1,975 shares during the last quarter. Strs Ohio acquired a new position in MP Materials in the 1st quarter valued at about $687,000. Exchange Traded Concepts LLC acquired a new position in MP Materials in the 2nd quarter valued at about $7,479,000. Finally, Amundi boosted its holdings in MP Materials by 561.2% in the 1st quarter. Amundi now owns 80,662 shares of the company's stock valued at $2,002,000 after purchasing an additional 68,462 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 1,284,409 shares of the company's stock, valued at approximately $92,503,136.18. This represents a 10.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 9.50% of the company's stock.

MP Materials Price Performance

Shares of MP opened at $74.57 on Tuesday. MP Materials Corp. has a fifty-two week low of $15.56 and a fifty-two week high of $82.50. The firm's 50 day moving average price is $68.93 and its 200 day moving average price is $43.92. The company has a market cap of $13.21 billion, a P/E ratio of -118.37 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 (NYSE:MP - Get Free Report) last announced 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. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The firm had revenue of $57.39 million for the quarter, compared to the consensus estimate of $44.84 million. During the same period in the prior year, the firm earned ($0.17) EPS. The firm's revenue for the quarter was up 83.6% on a year-over-year basis. On average, research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Daiwa Capital Markets assumed coverage on shares of MP Materials in a research note on Monday, September 22nd. They issued an "outperform" rating and a $80.00 price target on the stock. Jefferies Financial Group raised shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Friday, August 1st. DA Davidson boosted their price target on shares of MP Materials from $32.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Daiwa America raised shares of MP Materials to a "strong-buy" rating in a research note on Monday, September 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $68.33.

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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