MP Materials Corp. $MP Stock Holdings Lowered by Bryce Point Capital LLC

Key Points

• Bryce Point Capital LLC reduced its holdings in MP Materials Corp. by 17.4%, now owning 22,987 shares valued at approximately $765,000.
• COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials for over $10.8 million, reflecting a 10.46% decrease in his ownership position.
• Analysts have issued a range of ratings for MP Materials, with a current average rating of "Moderate Buy" and an average price target of $77.80.

Bryce Point Capital LLC reduced its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 17.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,987 shares of the company's stock after selling 4,850 shares during the quarter. Bryce Point Capital LLC's holdings in MP Materials were worth $765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MP. Highline Wealth Partners LLC bought a new stake in shares of MP Materials in the 2nd quarter worth approximately $25,000. AdvisorNet Financial Inc raised its holdings in shares of MP Materials by 168.7% during 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 during the period. MAI Capital Management raised its holdings in shares of MP Materials by 132.7% during 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 during the period. Spire Wealth Management raised its holdings in shares of MP Materials by 181.3% during the second quarter. Spire Wealth Management now owns 1,010 shares of the company's stock valued at $34,000 after acquiring an additional 651 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of MP Materials during the first quarter valued at approximately $35,000. 52.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction on Friday, August 29th. The shares were 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 in the company, valued at $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 can be accessed through this hyperlink. Corporate insiders own 12.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cfra Research upgraded shares of MP Materials to a "moderate buy" rating in a report on Monday, August 11th. BMO Capital Markets assumed coverage on shares of MP Materials in a report on Thursday, October 9th. They set a "market perform" rating and a $76.00 price target on the stock. Cowen restated a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Robert W. Baird boosted their price target on shares of MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley set a $69.00 price target on shares of MP Materials in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $77.80.

MP Materials Stock Down 8.6%

MP Materials stock opened at $57.69 on Tuesday. The firm has a market cap of $10.22 billion, a PE ratio of -91.56 and a beta of 2.26. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. The firm's 50 day moving average price is $71.02 and its two-hundred day moving average price is $51.04. MP Materials Corp. has a twelve month low of $15.56 and a twelve month high of $100.25.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. The firm had revenue of $57.39 million for the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company's revenue for the quarter was up 83.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) EPS. On average, research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

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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