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

Tcfg Wealth Management LLC purchased a new stake in MP Materials Corp. (NYSE:MP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,715 shares of the company's stock, valued at approximately $213,000.

Several other large investors have also recently bought and sold shares of MP. Price T Rowe Associates Inc. MD raised its stake in shares of MP Materials by 44.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock worth $101,986,000 after buying an additional 2,005,505 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of MP Materials by 3.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company's stock valued at $37,945,000 after acquiring an additional 73,297 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of MP Materials by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company's stock valued at $34,433,000 after purchasing an additional 176,121 shares during the period. Invesco Ltd. boosted its position in shares of MP Materials by 0.4% in the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock worth $33,050,000 after purchasing an additional 7,453 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of MP Materials by 15.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company's stock worth $16,843,000 after purchasing an additional 144,661 shares during the period. Institutional investors and hedge funds own 52.55% of the company's stock.

Insiders Place Their Bets

In other MP Materials 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 transaction, the chief executive officer now owns 13,643,076 shares of the company's stock, valued at $369,454,498.08. The trade was a 1.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.50% of the company's stock.

MP Materials Stock Up 4.8%

MP Materials stock traded up $1.71 during midday trading on Thursday, reaching $37.19. The stock had a trading volume of 18,795,959 shares, compared to its average volume of 4,514,023. The stock has a market capitalization of $6.08 billion, a P/E ratio of -57.22 and a beta of 2.14. The firm's fifty day simple moving average is $24.27 and its 200-day simple moving average is $22.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.58 and a current ratio of 4.12. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $39.10.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). MP Materials had a negative net margin of 48.41% and a negative return on equity of 9.77%. The business had revenue of $60.81 million during the quarter, compared to analyst estimates of $64.74 million. During the same quarter last year, the business earned ($0.04) earnings per share. MP Materials's revenue for the quarter was up 24.9% on a year-over-year basis. As a group, analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on MP shares. Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $23.00 to $34.00 in a report on Thursday, June 5th. DA Davidson boosted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. cut their target price on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. BMO Capital Markets upped their price objective 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, Robert W. Baird raised their price objective on MP Materials from $30.00 to $38.00 and gave the stock an "outperform" rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.06.

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.