MP Materials Corp. $MP Stock Position Raised by Odyssean LLC

Key Points

• Odyssean LLC increased its MP Materials position by 236.7% in the second quarter, owning 28,273 shares valued at approximately $1.58 million. Other institutional investors also added positions, bringing institutional ownership to 52.55%.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $78.21, although JPMorgan and Barclays recently reduced their targets.
• MP Materials reported quarterly revenue of $108.49 million, up 89% year over year and above expectations, while EPS was negative at $0.01. The company operates the Mountain Pass rare-earth mine and processing facility in California.

Odyssean LLC lifted its position in MP Materials Corp. (NYSE:MP - Free Report) by 236.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,273 shares of the company's stock after buying an additional 19,875 shares during the quarter. Odyssean LLC's holdings in MP Materials were worth $1,584,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Oak Thistle LLC bought a new position in MP Materials during the second quarter valued at about $1,543,000. Amundi boosted its stake in shares of MP Materials by 260.2% during the 1st quarter. Amundi now owns 385,001 shares of the company's stock worth $18,580,000 after acquiring an additional 278,126 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of MP Materials during the 4th quarter worth about $2,451,000. Phoenix Financial Ltd. acquired a new position in shares of MP Materials during the 4th quarter valued at about $449,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of MP Materials during the 4th quarter valued at about $1,482,000. Institutional investors own 52.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MP shares. JPMorgan Chase & Co. reduced their target price on MP Materials from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, July 29th. Citigroup reiterated a "positive" rating on shares of MP Materials in a report on Wednesday, July 15th. Barclays dropped their price target 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. Wall Street Zen cut shares of MP Materials from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of MP Materials in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $78.21.

MP Materials Price Performance

Shares of NYSE:MP opened at $60.25 on Wednesday. The business has a 50 day moving average price of $51.81 and a 200 day moving average price of $56.82. MP Materials Corp. has a twelve month low of $37.81 and a twelve month high of $100.25. The company has a market cap of $10.73 billion, a price-to-earnings ratio of -177.21 and a beta of 1.88. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.01). MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The firm had revenue of $108.49 million for the quarter, compared to analyst estimates of $96.89 million. During the same quarter last year, the firm posted ($0.13) EPS. The company's revenue was up 89.0% on a year-over-year basis. Research analysts predict that MP Materials Corp. will post -0.07 earnings per share for the current year.

Insider Buying and Selling at MP Materials

In related news, CEO James H. Litinsky sold 185,167 shares of the business's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $69.14, for a total transaction of $12,802,446.38. Following the transaction, the chief executive officer owned 11,620,798 shares of the company's stock, valued at approximately $803,461,973.72. The trade was a 1.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael Stuart Rosenthal bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average cost of $54.30 per share, for a total transaction of $543,000.00. Following the transaction, the chief operating officer directly owned 136,622 shares of the company's stock, valued at $7,418,574.60. This trade represents a 7.90% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 469,818 shares of company stock worth $31,487,908. 8.20% of the stock is currently owned by corporate insiders.

MP Materials Profile

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.

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