Sapient Capital LLC Sells 54,305 Shares of MP Materials Corp. $MP

Key Points

• Sapient Capital LLC has reduced its stake in MP Materials Corp. by 44.6%, selling 54,305 shares and retaining a total of 67,386 shares valued at approximately $2.24 million.
• Several institutional investors have made significant adjustments to their holdings in MP Materials, with NBC Securities Inc. increasing its stake by 119,900% in the first quarter.
• Analysts have upgraded MP Materials' stock ratings, with price target increases from various firms, resulting in an average rating of "Moderate Buy" and a consensus target price of approximately $66.88.

Sapient Capital LLC cut its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 44.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,386 shares of the company's stock after selling 54,305 shares during the period. Sapient Capital LLC's holdings in MP Materials were worth $2,242,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NBC Securities Inc. boosted its holdings in MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after buying an additional 1,199 shares during the period. MAI Capital Management boosted its holdings in MP Materials by 132.7% in the 1st quarter. MAI Capital Management now owns 1,403 shares of the company's stock worth $34,000 after buying an additional 800 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in MP Materials in the 1st quarter worth approximately $35,000. Banque Cantonale Vaudoise purchased a new stake in MP Materials in the 1st quarter worth approximately $35,000. Finally, Harbor Investment Advisory LLC lifted its stake in MP Materials by 51.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 1,510 shares of the company's stock worth $50,000 after purchasing an additional 510 shares in the last quarter. 52.55% of the stock is owned by institutional investors.

Insider Activity

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the transaction, the chief operating officer owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.60% of the company's stock.

Wall Street Analysts Forecast Growth

MP has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Robert W. Baird increased their target price on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Canaccord Genuity Group increased their target price on shares of MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, DA Davidson increased their target price on shares of MP Materials from $32.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.88.

MP Materials Price Performance

MP stock opened at $66.13 on Wednesday. The firm's 50-day moving average price is $64.56 and its two-hundred day moving average price is $39.31. MP Materials Corp. has a 12-month low of $13.45 and a 12-month high of $82.50. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of -104.97 and a beta of 2.32. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The firm had revenue of $57.39 million for the quarter, compared to analysts' expectations of $44.84 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. The company's revenue for the quarter was up 83.6% compared to the same quarter last year. As a group, equities analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

MP Materials Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.

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