Strengthening Families & Communities LLC Sells 5,152 Shares of MP Materials Corp. $MP

Key Points

• Strengthening Families & Communities LLC reduced its stake in MP Materials Corp. by 68.9%, holding 2,328 shares after selling 5,152 shares during the second quarter.
• MP Materials reported a 83.6% increase in quarterly revenue year-over-year, with an earnings per share (EPS) of ($0.13), beating analyst estimates.
• Institutional investors own 52.55% of the company's stock, with varied ratings; analysts have set an average target price of $74.00 for MP Materials.

Strengthening Families & Communities LLC reduced its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 68.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,328 shares of the company's stock after selling 5,152 shares during the quarter. Strengthening Families & Communities LLC's holdings in MP Materials were worth $77,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new stake in MP Materials during the second quarter worth approximately $25,000. AdvisorNet Financial Inc increased its stake in MP Materials by 168.7% during the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock worth $27,000 after acquiring an additional 506 shares during the last quarter. NBC Securities Inc. increased its stake in MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 1,199 shares during the last quarter. MAI Capital Management increased its stake in MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock worth $34,000 after acquiring an additional 800 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in MP Materials during the first quarter worth approximately $35,000. 52.55% of the stock is owned by institutional investors.

MP Materials Trading Up 8.7%

MP opened at $78.59 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of -124.75 and a beta of 2.32. The stock's 50 day moving average price is $69.91 and its 200-day moving average price is $44.98. MP Materials Corp. has a one year low of $15.56 and a one year high of $84.92.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.MP Materials's quarterly revenue was up 83.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) earnings per share. On average, equities analysts forecast that MP Materials Corp. will post -0.19 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Robert W. Baird boosted their price objective on MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. BMO Capital Markets assumed coverage on MP Materials in a research note on Thursday. They set a "market perform" rating and a $76.00 target price on the stock. Cowen reaffirmed a "buy" rating on shares of MP Materials in a research note on Friday, August 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MP Materials in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $74.00.

Insider Activity

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.50% of the company's stock.

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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