MP Materials Corp. $MP Shares Sold by Sicart Associates LLC

Key Points

• Sicart Associates LLC sold 13,055 shares of MP Materials Corp., reducing its holdings by 3.2% during the 2nd quarter, maintaining about 4.6% of its portfolio in the company.
• MP Materials reported a revenue increase of 83.6% year-over-year, reaching $57.39 million, and recorded earnings per share of ($0.13), exceeding analysts' expectations.
• Multiple institutional investors, including Vanguard Group Inc. and BNP Paribas Financial Markets, significantly increased their stakes in MP Materials during the 1st quarter, indicating strong institutional support.

Sicart Associates LLC decreased its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 395,512 shares of the company's stock after selling 13,055 shares during the quarter. MP Materials accounts for about 4.6% of Sicart Associates LLC's portfolio, making the stock its 4th largest holding. Sicart Associates LLC owned approximately 0.24% of MP Materials worth $13,159,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of MP Materials by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company's stock valued at $333,503,000 after buying an additional 942,105 shares in the last quarter. Invesco Ltd. raised its position in shares of MP Materials by 25.3% in the 1st quarter. Invesco Ltd. now owns 2,655,102 shares of the company's stock valued at $64,811,000 after buying an additional 536,522 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of MP Materials by 73.7% in the 1st quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company's stock valued at $40,455,000 after buying an additional 703,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of MP Materials by 429.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company's stock valued at $37,839,000 after buying an additional 1,257,282 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of MP Materials in the 1st quarter valued at approximately $34,288,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Price Performance

MP stock opened at $66.90 on Wednesday. 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 current ratio of 3.60 and a quick ratio of 3.12. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of -106.20 and a beta of 2.32. The company has a 50 day simple moving average of $68.22 and a 200 day simple moving average of $42.56.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $44.84 million. During the same period in the prior year, the company posted ($0.17) EPS. The company's revenue was up 83.6% on a year-over-year basis. Research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Transactions at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the company's 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 completion of the transaction, the chief operating officer directly owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. This represents a 10.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 12.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MP. Deutsche Bank Aktiengesellschaft boosted their target price on shares of MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. DA Davidson upped their price objective on shares of MP Materials from $32.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Robert W. Baird upped their price objective on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Cowen reiterated a "buy" rating on shares of MP Materials in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.33.

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.

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