Reaves W H & Co. Inc. Has $131.83 Million Stock Holdings in MP Materials Corp. $MP

Key Points

• Reaves W H & Co. Inc. slightly increased its MP Materials stake by 0.8% in Q4, ending with 2.61 million shares worth about $131.8 million. The position represents roughly 1.47% of MP Materials and about 2.3% of the firm’s portfolio.
• Insider activity was mixed: COO Michael Stuart Rosenthal bought 17,000 shares, while CEO James H. Litinsky sold 259,179 shares under a pre-arranged 10b5-1 plan. Insiders sold a total of 1.07 million shares in the last quarter.
• Analysts remain constructive on MP Materials, with several firms issuing buy or overweight ratings and the average price target at about $80.08. The stock last traded around $64.57 after the company reported better-than-expected quarterly earnings and revenue growth of 49.1% year over year.

Reaves W H & Co. Inc. lifted its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,609,526 shares of the company's stock after acquiring an additional 19,618 shares during the period. MP Materials makes up about 2.3% of Reaves W H & Co. Inc.'s investment portfolio, making the stock its 16th largest holding. Reaves W H & Co. Inc. owned about 1.47% of MP Materials worth $131,833,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in MP. Norges Bank bought a new stake in shares of MP Materials during the fourth quarter worth $82,531,000. BNP Paribas Financial Markets increased its position in shares of MP Materials by 76.3% during the second quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company's stock worth $97,200,000 after acquiring an additional 1,264,243 shares in the last quarter. Hancock Prospecting Pty Ltd increased its position in shares of MP Materials by 7.2% during the third quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company's stock worth $996,741,000 after acquiring an additional 1,000,000 shares in the last quarter. Amundi increased its position in shares of MP Materials by 1,320.8% during the third quarter. Amundi now owns 954,317 shares of the company's stock worth $70,934,000 after acquiring an additional 887,148 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of MP Materials during the third quarter worth $35,858,000. Institutional investors own 52.55% of the company's stock.

Insider Activity

In other news, COO Michael Stuart Rosenthal acquired 17,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $56.62 per share, with a total value of $962,540.00. Following the transaction, the chief operating officer directly owned 1,333,673 shares in the company, valued at approximately $75,512,565.26. The trade was a 1.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 259,179 shares of MP Materials stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $64.03, for a total transaction of $16,595,231.37. Following the completion of the transaction, the chief executive officer directly owned 12,505,965 shares of the company's stock, valued at approximately $800,756,938.95. This trade represents a 2.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,066,000 shares of company stock valued at $69,329,207 in the last quarter. Company insiders own 8.20% of the company's stock.

Analyst Upgrades and Downgrades

MP has been the subject of several research reports. Morgan Stanley increased their price objective on shares of MP Materials from $62.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. William Blair reissued an "outperform" rating on shares of MP Materials in a research report on Wednesday, March 4th. TD Securities raised shares of MP Materials to a "strong-buy" rating in a research report on Monday, February 9th. Barclays initiated coverage on shares of MP Materials in a research report on Thursday, May 21st. They set an "overweight" rating and a $69.00 price objective for the company. Finally, Canaccord Genuity Group set a $82.00 price objective on shares of MP Materials in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $80.08.

MP Materials Stock Down 0.2%

MP Materials stock opened at $64.57 on Monday. The company has a market cap of $11.50 billion, a P/E ratio of -153.75 and a beta of 1.86. MP Materials Corp. has a 1-year low of $19.60 and a 1-year high of $100.25. The company has a fifty day simple moving average of $59.36 and a 200 day simple moving average of $59.49. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.04. The business had revenue of $90.65 million during the quarter, compared to the consensus estimate of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The firm's revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.12) earnings per share. Research analysts anticipate that MP Materials Corp. will post -0.04 earnings per share for the current fiscal year.

About MP Materials

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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