Nan Fung Trinity HK Ltd. Sells 75,950 Shares of MP Materials Corp. $MP

Key Points

• Nan Fung Trinity HK cut its MP Materials stake by 21.2%, selling 75,950 shares and retaining 283,050 shares at quarter-end. Institutional investors collectively held 52.55% of the company.
• Company insiders bought 92,476 shares worth about $3.35 million over 90 days, including purchases by a director and the COO.
• MP Materials beat third-quarter estimates, posting EPS of $0.04 versus a $0.02 loss expected and revenue of $147.66 million, up 175.7% year over year. Analysts’ consensus rating was “Moderate Buy,” with a $69.50 average price target.

Nan Fung Trinity HK Ltd. reduced its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 21.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 283,050 shares of the company's stock after selling 75,950 shares during the quarter. Nan Fung Trinity HK Ltd. owned about 0.16% of MP Materials worth $13,385,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MP. Toth Financial Advisory Corp lifted its holdings in MP Materials by 73.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company's stock worth $29,000 after buying an additional 220 shares in the last quarter. Wedmont Private Capital boosted its position in MP Materials by 2.0% in the 3rd quarter. Wedmont Private Capital now owns 11,866 shares of the company's stock valued at $547,000 after buying an additional 234 shares during the last quarter. Allworth Financial LP boosted its position in MP Materials by 4.5% in the 2nd quarter. Allworth Financial LP now owns 5,679 shares of the company's stock valued at $318,000 after buying an additional 243 shares during the last quarter. NFSG Corp increased its stake in shares of MP Materials by 5.0% in the 1st quarter. NFSG Corp now owns 5,387 shares of the company's stock valued at $260,000 after buying an additional 255 shares during the period. Finally, Putney Financial Group LLC increased its stake in shares of MP Materials by 4.4% in the 3rd quarter. Putney Financial Group LLC now owns 6,123 shares of the company's stock valued at $290,000 after buying an additional 257 shares during the period. Institutional investors and hedge funds own 52.55% of the company's stock.

Insider Buying and Selling at MP Materials

In other MP Materials news, Director Randall Weisenburger bought 55,000 shares of the company's stock in a transaction on Tuesday, November 10th. The stock was bought at an average price of $36.00 per share, for a total transaction of $1,980,000.00. Following the transaction, the director owned 205,899 shares of the company's stock, valued at approximately $7,412,364. The trade was a 36.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Rosenthal purchased 5,000 shares of the business's stock in a transaction dated Wednesday, November 11th. The stock was bought at an average cost of $37.30 per share, for a total transaction of $186,500.00. Following the purchase, the chief operating officer owned 1,365,673 shares in the company, valued at $50,939,602.90. This trade represents a 0.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 92,476 shares of company stock worth $3,353,475. Insiders own 8.20% of the company's stock.

Recent MP Materials Headlines

Here are a few of the latest headlines about MP:

• Positive Sentiment: Three insiders—including the CFO, COO and a director—bought more than $3.35 million of MP shares. The purchases may signal confidence, and came after the company began shipping saleable magnets to General Motors. MP Materials Stock Rises After Insiders Buy $3.35 Million
• Positive Sentiment: Recent third-quarter results beat estimates, supported by higher neodymium-praseodymium sales and pricing. The company has also reported progress on customer agreements with GM, Apple and U.S. defense customers. MP Gains 2% After Q3 Earnings Beat
• Neutral Sentiment: Analyst opinion is mixed: Freedom Broker upgraded the shares, while other coverage included a downgrade and Deutsche Bank lowered its price target to $40 from $53 but kept a Buy rating. Freedom Broker Upgrade Deutsche Bank Price Target

MP Materials Trading Up 2.1%

MP opened at $37.49 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.75 and a quick ratio of 6.04. The company has a market cap of $6.68 billion, a price-to-earnings ratio of -170.39 and a beta of 2.05. The firm has a 50 day simple moving average of $44.22 and a 200 day simple moving average of $53.85. MP Materials Corp. has a fifty-two week low of $31.90 and a fifty-two week high of $76.80.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. MP Materials had a negative net margin of 9.90% and a negative return on equity of 0.05%. The business had revenue of $147.66 million for the quarter, compared to analyst estimates of $117.37 million. During the same period in the prior year, the business posted ($0.10) earnings per share. MP Materials's revenue was up 175.7% compared to the same quarter last year. On average, sell-side analysts anticipate that MP Materials Corp. will post -0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MP. Weiss Ratings restated a "sell (d-)" rating on shares of MP Materials in a research report on Thursday, October 15th. JPMorgan Chase & Co. cut their price target on MP Materials from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, November 7th. Morgan Stanley lowered their price objective on MP Materials from $73.00 to $66.00 and set an "overweight" rating for the company in a research report on Wednesday, October 7th. Finally, Barclays lowered their price objective on MP Materials from $65.00 to $54.00 and set an "overweight" rating for the company in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, MP Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.50.

MP Materials Company Profile

MP Materials operates the Mountain Pass rare earth mine and processing facility in California. The site is a major North American source of rare earth materials, which are used in products such as electric vehicles, wind turbines, electronics and defense systems. The company mines and processes rare earth ore into concentrate and separated products, including neodymium-praseodymium (NdPr), a key input for high-strength permanent magnets. MP Materials is also developing domestic magnet manufacturing capabilities to extend its business further along the supply chain.

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