Tcfg Wealth Management LLC Takes Position in MP Materials Corp. (NYSE:MP)

Tcfg Wealth Management LLC purchased a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 8,715 shares of the company's stock, valued at approximately $213,000.

Other institutional investors have also modified their holdings of the company. NBC Securities Inc. increased its position in MP Materials by 119,900.0% in the first 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. Quadrant Capital Group LLC increased its stake in shares of MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after purchasing an additional 701 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of MP Materials during the fourth quarter valued at approximately $40,000. IMG Wealth Management Inc. acquired a new position in shares of MP Materials during the fourth quarter worth approximately $66,000. Finally, CX Institutional bought a new position in MP Materials in the 1st quarter worth approximately $79,000. Institutional investors and hedge funds own 52.55% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $23.00 to $34.00 in a research note on Thursday, June 5th. DA Davidson upped their price objective on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. BMO Capital Markets increased their target price on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $25.61.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 199,180 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the sale, the chief executive officer now directly owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 378,874 shares of company stock worth $10,235,862 in the last ninety days. 9.50% of the stock is currently owned by insiders.

MP Materials Stock Performance

Shares of NYSE:MP traded up $4.05 during midday trading on Monday, hitting $34.60. The company's stock had a trading volume of 25,174,184 shares, compared to its average volume of 6,039,651. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The stock's 50 day simple moving average is $23.51 and its 200 day simple moving average is $22.50. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of -58.65 and a beta of 2.14. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $35.05.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The business's quarterly revenue was up 24.9% on a year-over-year basis. As a group, research analysts anticipate 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.