Regal Partners Ltd Invests $1.15 Million in MP Materials Corp. $MP

Key Points

• Regal Partners acquired 23,816 MP Materials shares worth approximately $1.15 million in the first quarter. Institutional investors collectively own 52.55% of the company.
• MP Materials reported quarterly revenue of $90.65 million, up 49.1% year over year, and adjusted earnings of $0.03 per share, beating analyst expectations.
• Analysts maintain a broadly positive view, with a consensus “Buy” rating and $79.42 price target, although insider activity was mixed as the COO bought shares while the CFO sold stock under a pre-arranged trading plan.

Regal Partners Ltd acquired a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 23,816 shares of the company's stock, valued at approximately $1,149,000.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in MP Materials by 26.5% during the first quarter. Royal Bank of Canada now owns 234,185 shares of the company's stock worth $5,716,000 after buying an additional 49,052 shares during the period. AQR Capital Management LLC bought a new stake in MP Materials during the 1st quarter valued at $215,000. Integrated Wealth Concepts LLC bought a new stake in MP Materials during the 1st quarter valued at $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of MP Materials by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company's stock valued at $265,000 after acquiring an additional 479 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of MP Materials by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company's stock valued at $4,734,000 after acquiring an additional 51,348 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Price Performance

Shares of NYSE:MP opened at $41.28 on Wednesday. MP Materials Corp. has a twelve month low of $39.91 and a twelve month high of $100.25. The company's 50 day moving average is $55.79 and its 200 day moving average is $58.63. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. The company has a market cap of $7.35 billion, a PE ratio of -98.30 and a beta of 1.86.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data 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. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The business had revenue of $90.65 million during the quarter, compared to analyst estimates of $74.82 million. During the same quarter last year, the business posted ($0.12) EPS. The company's revenue was up 49.1% on a year-over-year basis. On average, sell-side analysts forecast that MP Materials Corp. will post 0.05 EPS for the current year.

Insiders Place Their Bets

In other news, COO Michael Stuart Rosenthal acquired 17,000 shares of MP Materials stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $56.62 per share, with a total value of $962,540.00. Following the purchase, the chief operating officer owned 1,333,673 shares in the company, valued at $75,512,565.26. This trade represents a 1.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ryan Corbett sold 20,000 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief financial officer directly owned 109,017 shares in the company, valued at approximately $8,176,275. This represents a 15.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 905,167 shares of company stock worth $60,161,837. Company insiders own 8.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wedbush upped their price objective on MP Materials from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Citigroup reiterated a "positive" rating on shares of MP Materials in a research note on Wednesday, July 15th. Needham & Company LLC cut their target price on MP Materials from $81.00 to $73.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Wall Street Zen downgraded shares of MP Materials from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Canaccord Genuity Group set a $82.00 price target on shares of MP Materials in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, MP Materials has an average rating of "Buy" and a consensus target price of $79.42.

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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