SWS Partners Decreases Stock Holdings in MP Materials Corp. $MP

Key Points

• SWS Partners has reduced its stake in MP Materials Corp. by 20.3%, now holding 129,565 shares valued at $3.16 million after selling 32,938 shares.
• Despite SWS Partners' decrease, other hedge funds have increased their positions in MP Materials, with NBC Securities Inc. growing its stake by an astonishing 119,900%.
• MP Materials reported a quarterly revenue of $57.39 million, a significant increase of 83.6% from the same period last year, while also beating analysts' EPS estimates.

SWS Partners cut its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 20.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,565 shares of the company's stock after selling 32,938 shares during the period. SWS Partners owned 0.08% of MP Materials worth $3,163,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MP. JT Stratford LLC raised its holdings in shares of MP Materials by 0.7% during the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company's stock worth $993,000 after acquiring an additional 424 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MP Materials by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company's stock worth $265,000 after acquiring an additional 479 shares in the last quarter. CWM LLC raised its holdings in shares of MP Materials by 16.5% during the 1st quarter. CWM LLC now owns 3,566 shares of the company's stock worth $87,000 after acquiring an additional 505 shares in the last quarter. CENTRAL TRUST Co raised its holdings in shares of MP Materials by 20.6% during the 1st quarter. CENTRAL TRUST Co now owns 3,965 shares of the company's stock worth $97,000 after acquiring an additional 678 shares in the last quarter. Finally, Delta Investment Management LLC raised its holdings in shares of MP Materials by 3.6% during the 4th quarter. Delta Investment Management LLC now owns 22,025 shares of the company's stock worth $344,000 after acquiring an additional 767 shares in the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the company's stock in a transaction 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 directly owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. This represents a 10.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. DA Davidson upped their price objective on MP Materials from $32.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Cowen reaffirmed a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Morgan Stanley set a $65.00 target price on MP Materials and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Cfra Research raised MP Materials to a "moderate buy" rating in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. boosted their target price on MP Materials from $18.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.88.

MP Materials Trading Up 0.9%

Shares of NYSE MP traded up $0.58 during trading hours on Friday, hitting $63.61. 5,951,207 shares of the company traded hands, compared to its average volume of 8,708,569. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of -100.96 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. The company's 50 day moving average price is $63.17 and its 200 day moving average price is $38.62. MP Materials Corp. has a 12 month low of $13.45 and a 12 month high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. The company had revenue of $57.39 million for the quarter, compared to the consensus estimate 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 prior year, the company posted ($0.17) EPS. On average, equities research analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal 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.