MP Materials Corp. $MP Shares Sold by Teamwork Financial Advisors LLC

Key Points

• Teamwork Financial Advisors LLC cut its MP Materials position by 93.4% in the third quarter, selling 177,614 shares and retaining 12,486 shares valued at approximately $590,000.
• Institutional interest was mixed, with several firms increasing their stakes; hedge funds and other institutional investors collectively own 52.55% of MP Materials.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $71.92, despite MP shares trading near $38.95 and remaining unprofitable.

Teamwork Financial Advisors LLC reduced its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 93.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,486 shares of the company's stock after selling 177,614 shares during the period. Teamwork Financial Advisors LLC's holdings in MP Materials were worth $590,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MP. New Wave Wealth Advisors LLC grew its position in MP Materials by 143.5% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 18,921 shares of the company's stock worth $895,000 after purchasing an additional 11,151 shares in the last quarter. IFP Advisors Inc increased its stake in MP Materials by 17.6% in the 3rd quarter. IFP Advisors Inc now owns 47,842 shares of the company's stock valued at $2,262,000 after buying an additional 7,166 shares during the last quarter. Vontobel Holding Ltd. increased its stake in MP Materials by 7.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 55,359 shares of the company's stock valued at $2,618,000 after buying an additional 3,930 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in MP Materials by 87.1% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,758 shares of the company's stock valued at $127,000 after buying an additional 1,284 shares during the last quarter. Finally, Annex Advisory Services LLC purchased a new stake in MP Materials in the 3rd quarter valued at about $267,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MP shares. Barclays dropped their target price on shares of MP Materials from $69.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, July 16th. Robert W. Baird reduced their target price on MP Materials from $80.00 to $65.00 and set an "outperform" rating for the company in a report on Thursday, October 1st. Freedom Broker started coverage on MP Materials in a report on Wednesday, September 16th. They issued a "hold" rating and a $57.00 target price for the company. Citigroup reaffirmed a "positive" rating on shares of MP Materials in a research report on Wednesday, July 15th. Finally, Zacks Research lowered MP Materials from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $71.92.

MP Materials Stock Performance

MP stock traded down $1.22 during mid-day trading on Monday, hitting $38.95. The company had a trading volume of 4,007,057 shares, compared to its average volume of 6,413,202. The company has a debt-to-equity ratio of 0.48, a quick ratio of 8.56 and a current ratio of 9.51. The firm has a market cap of $6.94 billion, a PE ratio of -114.55 and a beta of 1.98. MP Materials Corp. has a 12 month low of $37.81 and a 12 month high of $83.99. The stock's fifty day moving average price is $51.25 and its two-hundred day moving average price is $54.62.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.01). MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The firm had revenue of $108.49 million during the quarter, compared to the consensus estimate of $96.89 million. During the same period in the prior year, the firm earned ($0.13) EPS. The company's revenue was up 89.0% compared to the same quarter last year. On average, analysts forecast that MP Materials Corp. will post -0.20 earnings per share for the current fiscal year.

MP Materials Profile

MP Materials Corp. is a rare earth materials company focused on restoring and expanding a fully integrated rare earth supply chain in the United States. The company owns and operates the Mountain Pass rare earth mine and processing facility in California, one of the largest rare earth production sites in the Western Hemisphere.

MP Materials primarily produces rare earth concentrate containing neodymium and praseodymium, elements used in high-strength permanent magnets. These magnets are important components in electric vehicles, wind turbines, robotics, defense systems, and other advanced technologies.

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