SBI Okasan Asset Management Co.Ltd. Makes New Investment in MP Materials Corp. $MP

Key Points

• SBI Okasan Asset Management opened a new position in MP Materials during the fourth quarter, buying 31,910 shares worth about $1.66 million.
• MP Materials reported better-than-expected first-quarter results, posting EPS of $0.03 versus an expected loss and revenue of $90.65 million, up 49.1% year over year.
• Analysts remain generally bullish, with a consensus rating of “Buy” and an average price target of $80.08, while recent insider activity included a COO share purchase and CEO share sales under a 10b5-1 plan.

SBI Okasan Asset Management Co.Ltd. acquired a new position in MP Materials Corp. (NYSE:MP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 31,910 shares of the company's stock, valued at approximately $1,657,000.

Several other institutional investors have also recently made changes to their positions in MP. Northwestern Mutual Wealth Management Co. raised its stake in MP Materials by 84.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 210,737 shares of the company's stock valued at $10,646,000 after purchasing an additional 96,779 shares during the period. Foundations Investment Advisors LLC bought a new stake in MP Materials during the 4th quarter valued at approximately $851,000. Murphy & Mullick Capital Management Corp raised its stake in MP Materials by 400.0% during the 4th quarter. Murphy & Mullick Capital Management Corp now owns 1,000 shares of the company's stock valued at $51,000 after purchasing an additional 800 shares during the period. Geode Capital Management LLC raised its stake in MP Materials by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 2,544,743 shares of the company's stock valued at $128,587,000 after purchasing an additional 197,375 shares during the period. Finally, Coordinated Financial Services Inc. raised its stake in MP Materials by 25.3% during the 4th quarter. Coordinated Financial Services Inc. now owns 5,845 shares of the company's stock valued at $295,000 after purchasing an additional 1,180 shares during the period. Institutional investors own 52.55% of the company's stock.

MP Materials Price Performance

NYSE MP opened at $66.79 on Friday. The firm's fifty day simple moving average is $59.22 and its two-hundred day simple moving average is $59.48. MP Materials Corp. has a 12-month low of $19.60 and a 12-month high of $100.25. The firm has a market capitalization of $11.89 billion, a P/E ratio of -159.03 and a beta of 1.90. 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 announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $90.65 million for the quarter, compared to analyst estimates of $74.82 million. During the same period in the prior year, the company posted ($0.12) EPS. The firm's quarterly revenue was up 49.1% compared to the same quarter last year. Analysts forecast that MP Materials Corp. will post -0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of MP Materials in a report on Tuesday, April 21st. Wedbush raised their price target on MP Materials from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, May 8th. DA Davidson restated a "buy" rating and set a $82.00 price target on shares of MP Materials in a report on Wednesday, May 20th. Morgan Stanley raised their price target on MP Materials from $62.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of MP Materials in a research report on Tuesday, May 12th. 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. According to MarketBeat.com, MP Materials has an average rating of "Buy" and a consensus price target of $80.08.

Insider Activity at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal bought 17,000 shares of MP Materials stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost 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 of the company's stock, valued at approximately $75,512,565.26. This represents a 1.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James H. Litinsky sold 259,179 shares of the company's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $64.03, for a total value of $16,595,231.37. Following the transaction, the chief executive officer directly owned 12,505,965 shares in the company, valued at $800,756,938.95. This represents a 2.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 666,000 shares of company stock valued at $43,103,382 in the last ninety days. Corporate insiders own 8.20% of the company's stock.

MP Materials Company 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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