Rockefeller Capital Management L.P. Sells 77,431 Shares of MP Materials Corp. $MP

Key Points

• Rockefeller Capital Management reduced its MP Materials stake by 31.8% in the fourth quarter, selling 77,431 shares and leaving it with 165,989 shares valued at about $8.39 million.
• MP Materials has seen mixed insider trading: COO Michael Stuart Rosenthal bought 10,000 shares in June, while CFO Ryan Corbett sold 20,000 shares in May under a pre-arranged 10b5-1 plan; insiders overall sold more than 1.2 million shares in the last 90 days.
• The company recently beat quarterly earnings expectations, reporting $0.03 EPS on revenue of $90.65 million, and analysts currently rate the stock a Buy with an average price target of $80.14.

Rockefeller Capital Management L.P. cut its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 31.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,989 shares of the company's stock after selling 77,431 shares during the period. Rockefeller Capital Management L.P. owned about 0.09% of MP Materials worth $8,386,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MP. Corient Private Wealth LLC grew its position in shares of MP Materials by 83.0% in the 4th quarter. Corient Private Wealth LLC now owns 39,047 shares of the company's stock valued at $1,972,000 after buying an additional 17,708 shares during the last quarter. EMC Capital Management bought a new stake in MP Materials in the fourth quarter valued at approximately $25,000. WMS Group LLC acquired a new stake in MP Materials during the 4th quarter valued at approximately $557,000. Caitong International Asset Management Co. Ltd increased its position in MP Materials by 26,018.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,664 shares of the company's stock valued at $488,000 after purchasing an additional 9,627 shares during the period. Finally, Sit Investment Associates Inc. raised its holdings in MP Materials by 7.2% during the 4th quarter. Sit Investment Associates Inc. now owns 59,375 shares of the company's stock worth $3,000,000 after purchasing an additional 4,000 shares during the last quarter. 52.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MP shares. Needham & Company LLC began coverage on shares of MP Materials in a research note on Monday, June 1st. They issued a "buy" rating and a $81.00 price objective on the stock. Wall Street Zen raised shares of MP Materials from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. Canaccord Genuity Group set a $82.00 price objective on MP Materials in a research note on Friday, May 8th. Morgan Stanley raised their target price on MP Materials from $62.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of MP Materials in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, MP Materials presently has a consensus rating of "Buy" and an average price target of $80.14.

Insider Activity at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal acquired 10,000 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $54.30 per share, with a total value of $543,000.00. Following the completion of the purchase, the chief operating officer owned 136,622 shares of the company's stock, valued at approximately $7,418,574.60. This represents a 7.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ryan Corbett sold 20,000 shares of MP Materials stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the transaction, the chief financial officer owned 109,017 shares of the company's stock, valued at $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. In the last 90 days, insiders sold 1,205,167 shares of company stock valued at $79,371,654. 8.20% of the stock is owned by company insiders.

MP Materials Stock Down 1.9%

MP stock opened at $55.46 on Friday. The stock's 50 day simple moving average is $62.49 and its 200 day simple moving average is $59.59. The company has a market cap of $9.87 billion, a P/E ratio of -132.05 and a beta of 1.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18. MP Materials Corp. has a fifty-two week low of $29.58 and a fifty-two week high of $100.25.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS 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 firm had revenue of $90.65 million during the quarter, compared to analysts' expectations of $74.82 million. During the same quarter last year, the firm posted ($0.12) earnings per share. The company's revenue for the quarter was up 49.1% compared to the same quarter last year. On average, research analysts expect 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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