Rye Brook Capital LLC Makes New Investment in MP Materials Corp. $MP

Key Points

• Rye Brook Capital acquired 13,698 shares of MP Materials during the third quarter, worth approximately $648,000. Institutional investors and hedge funds collectively own 52.55% of the company.
• MP Materials shares fell 4.8% to $46.22, well below their 52-week high of $100.25. The company reported quarterly revenue of $108.49 million, up 89% year over year, but remained unprofitable.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $75 price target, although several firms recently lowered targets and one downgraded the stock to “strong sell.”

Rye Brook Capital LLC purchased a new position in MP Materials Corp. (NYSE:MP - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 13,698 shares of the company's stock, valued at approximately $648,000.

Other institutional investors have also made changes to their positions in the company. EMC Capital Management bought a new position in shares of MP Materials during the fourth quarter worth $25,000. Toth Financial Advisory Corp increased its position in shares of MP Materials by 73.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company's stock valued at $29,000 after buying an additional 220 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of MP Materials in the 4th quarter valued at $36,000. Markowski Investments acquired a new stake in MP Materials during the 2nd quarter worth $43,000. Finally, Archer Investment Corp raised its stake in MP Materials by 990.1% during the 1st quarter. Archer Investment Corp now owns 1,101 shares of the company's stock worth $53,000 after buying an additional 1,000 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Stock Down 4.8%

Shares of NYSE:MP traded down $2.31 during mid-day trading on Wednesday, reaching $46.22. 5,936,506 shares of the stock were exchanged, compared to its average volume of 6,427,854. The company has a quick ratio of 8.56, a current ratio of 9.51 and a debt-to-equity ratio of 0.48. The company has a market cap of $8.23 billion, a P/E ratio of -135.93 and a beta of 1.98. MP Materials Corp. has a one year low of $37.81 and a one year high of $100.25. The stock's 50 day simple moving average is $51.51 and its 200-day simple moving average is $55.09.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $108.49 million for the quarter, compared to analysts' expectations of $96.89 million. MP Materials had a negative return on equity of 1.21% and a negative net margin of 19.85%.The business's quarterly revenue was up 89.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.13) EPS. As a group, equities research analysts predict that MP Materials Corp. will post -0.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Zacks Research cut MP Materials from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MP Materials in a report on Friday, July 17th. Morgan Stanley decreased 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. Freedom Broker initiated coverage on MP Materials in a research note on Wednesday, September 16th. They set a "hold" rating and a $57.00 target price for the company. Finally, Robert W. Baird cut their price target on shares of MP Materials from $80.00 to $65.00 and set an "outperform" rating on the stock in a research note on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $75.00.

MP Materials Company Profile

MP Materials Corp. is a rare earth materials company that owns and operates the Mountain Pass Rare Earth Mine and processing facility in California. The site produces rare earth concentrate, with a focus on neodymium-praseodymium (NdPr), materials used in high-strength permanent magnets.

The company is expanding its operations beyond mining and concentrate production by developing domestic capabilities to separate rare earth elements and manufacture neodymium-iron-boron (NdFeB) magnets.

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