Oakmont Investment Advisors Inc. Takes Position in MP Materials Corp. $MP

Key Points

• Oakmont Investment Advisors acquired 43,393 MP Materials shares worth approximately $2.43 million, making the stock 1.7% of its portfolio. Institutional investors collectively own 52.55% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $78.21, despite several recent target-price reductions.
• MP Materials reported quarterly revenue of $108.49 million, up 89% year over year and above estimates, while matching expectations with an EPS loss of $0.01. The stock recently opened at $54.42, well below its 12-month high of $100.25.

Oakmont Investment Advisors Inc. acquired a new stake in MP Materials Corp. (NYSE:MP - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 43,393 shares of the company's stock, valued at approximately $2,430,000. MP Materials accounts for 1.7% of Oakmont Investment Advisors Inc.'s investment portfolio, making the stock its 14th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in MP. Odyssean LLC grew its position in MP Materials by 236.7% during the second quarter. Odyssean LLC now owns 28,273 shares of the company's stock worth $1,584,000 after buying an additional 19,875 shares during the period. FirstWave Capital Management LLC lifted its position in shares of MP Materials by 23.8% during the 2nd quarter. FirstWave Capital Management LLC now owns 61,473 shares of the company's stock valued at $3,443,000 after acquiring an additional 11,820 shares during the period. ZEGA Investments LLC acquired a new stake in shares of MP Materials during the 2nd quarter valued at approximately $482,000. Concurrent Investment Advisors LLC boosted its stake in shares of MP Materials by 3.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 80,211 shares of the company's stock worth $4,493,000 after acquiring an additional 2,723 shares in the last quarter. Finally, Nwam LLC purchased a new stake in shares of MP Materials during the 2nd quarter worth approximately $239,000. Hedge funds and other institutional investors own 52.55% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MP. Morgan Stanley reaffirmed an "overweight" rating on shares of MP Materials in a research note on Wednesday, August 19th. Needham & Company LLC decreased their target price on MP Materials from $81.00 to $73.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on MP Materials from $70.00 to $61.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. JPMorgan Chase & Co. dropped their price target on MP Materials from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, July 29th. Finally, DA Davidson reaffirmed a "buy" rating and set a $82.00 price target on shares of MP Materials in a research note on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $78.21.

MP Materials Price Performance

NYSE:MP opened at $54.42 on Friday. MP Materials Corp. has a 12-month low of $37.81 and a 12-month high of $100.25. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of -160.05 and a beta of 1.94. The company's 50-day moving average is $51.39 and its two-hundred day moving average is $56.61. The company has a current ratio of 9.51, a quick ratio of 8.56 and a debt-to-equity ratio of 0.48.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, hitting analysts' consensus estimates of ($0.01). The business had revenue of $108.49 million during the quarter, compared to the consensus estimate of $96.89 million. MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The company's quarterly revenue was up 89.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) earnings per share. Research analysts expect that MP Materials Corp. will post -0.12 EPS for the current year.

Insider Buying and Selling

In other news, COO Michael Rosenthal bought 10,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was purchased at an average cost of $54.30 per share, with a total value of $543,000.00. Following the purchase, the chief operating officer owned 136,622 shares of the company's stock, valued at approximately $7,418,574.60. The trade was a 7.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.20% of the company's stock.

MP Materials Company 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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