Sicart Associates LLC Sells 52,647 Shares of MP Materials Corp. $MP

Key Points

• Sicart Associates LLC cut its stake in MP Materials by 28.1%, selling 52,647 shares and now holding 134,680 shares valued at $6.804M, making MP 1.8% of its portfolio and its 20th largest position.
• Company insiders have sold sizable stock recently — CFO Ryan Corbett sold 46,000 shares at $60 and CEO James Litinsky sold 272,600 shares at $64.17 — with insiders offloading 346,000 shares (~$22.0M) in the last 90 days while retaining 9.5% ownership.
• MP Materials beat EPS estimates ($0.09 vs. $0.02) but missed revenue expectations and reported a 13.6% YoY revenue decline and negative margins; the stock has a $9.21B market cap and an average analyst rating of Buy with a $78.91 price target.

Sicart Associates LLC reduced its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 28.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,680 shares of the company's stock after selling 52,647 shares during the period. MP Materials accounts for 1.8% of Sicart Associates LLC's portfolio, making the stock its 20th biggest holding. Sicart Associates LLC owned 0.08% of MP Materials worth $6,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MP. Sound Income Strategies LLC lifted its holdings in MP Materials by 420.0% during the third quarter. Sound Income Strategies LLC now owns 364 shares of the company's stock valued at $26,000 after purchasing an additional 294 shares in the last quarter. Grove Bank & Trust bought a new position in shares of MP Materials in the third quarter worth approximately $34,000. SJS Investment Consulting Inc. increased its stake in shares of MP Materials by 4,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company's stock worth $38,000 after purchasing an additional 552 shares in the last quarter. Hilltop National Bank raised its position in shares of MP Materials by 500.0% during the 3rd quarter. Hilltop National Bank now owns 600 shares of the company's stock valued at $40,000 after purchasing an additional 500 shares during the period. Finally, Montag A & Associates Inc. raised its position in shares of MP Materials by 106.2% during the 3rd quarter. Montag A & Associates Inc. now owns 635 shares of the company's stock valued at $43,000 after purchasing an additional 327 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Price Performance

Shares of MP Materials stock opened at $51.86 on Friday. The firm has a market cap of $9.21 billion, a PE ratio of -99.73 and a beta of 1.55. The stock has a 50 day moving average of $59.77 and a 200 day moving average of $62.51. The company has a current ratio of 7.24, a quick ratio of 6.67 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 12 month low of $18.64 and a 12 month high of $100.25.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.07. The business had revenue of $52.69 million for the quarter, compared to the consensus estimate of $76.06 million. MP Materials had a negative return on equity of 4.28% and a negative net margin of 38.26%.The company's revenue was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) EPS. On average, research analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

MP has been the topic of a number of analyst reports. DA Davidson restated a "buy" rating and set a $82.00 target price on shares of MP Materials in a research note on Wednesday, March 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MP Materials in a research note on Thursday, January 22nd. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. William Blair reaffirmed an "outperform" rating on shares of MP Materials in a research note on Wednesday, March 4th. Finally, Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $68.50 to $71.00 in a research report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, MP Materials currently has an average rating of "Buy" and an average price target of $78.91.

Insider Buying and Selling at MP Materials

In related news, CFO Ryan Corbett sold 46,000 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $60.00, for a total value of $2,760,000.00. Following the sale, the chief financial officer owned 129,017 shares in the company, valued at approximately $7,741,020. The trade was a 26.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 272,600 shares of the company's stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the sale, the chief executive officer directly owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. The trade was a 2.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 346,000 shares of company stock worth $22,006,616 in the last 90 days. 9.50% of the stock is currently owned by company insiders.

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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