Teamwork Financial Advisors LLC Acquires New Holdings in MP Materials Corp. $MP

Key Points

• Teamwork Financial Advisors acquired 190,100 shares of MP Materials in the second quarter, valued at approximately $10.6 million, while institutional investors collectively own 52.55% of the company.
• MP Materials reported quarterly revenue of $108.49 million, up 89% year over year and above estimates, but posted a loss of $0.01 per share and continues to operate with negative margins.
• The stock rose 1.7% to $55.46, while analysts maintained a broadly positive outlook: MP has a “Moderate Buy” consensus rating and an average price target of $78.21, despite some recent sell downgrades.

Teamwork Financial Advisors LLC bought a new stake in MP Materials Corp. (NYSE:MP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 190,100 shares of the company's stock, valued at approximately $10,648,000. Teamwork Financial Advisors LLC owned approximately 0.11% of MP Materials as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in shares of MP Materials by 5,523.6% in the second quarter. California State Teachers Retirement System now owns 9,225,687 shares of the company's stock valued at $516,731,000 after acquiring an additional 9,061,633 shares in the last quarter. Norges Bank acquired a new stake in MP Materials in the fourth quarter worth approximately $82,531,000. BNP Paribas Financial Markets boosted its stake in MP Materials by 76.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company's stock valued at $97,200,000 after purchasing an additional 1,264,243 shares in the last quarter. Van ECK Associates Corp increased its position in shares of MP Materials by 71.6% during the 4th quarter. Van ECK Associates Corp now owns 2,834,914 shares of the company's stock valued at $143,220,000 after purchasing an additional 1,183,307 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of MP Materials in the 2nd quarter worth $65,230,000. 52.55% of the stock is currently owned by institutional investors.

MP Materials Trading Up 1.7%

NYSE:MP opened at $55.46 on Wednesday. The stock has a market cap of $9.88 billion, a PE ratio of -163.12 and a beta of 1.94. MP Materials Corp. has a fifty-two week low of $37.81 and a fifty-two week high of $100.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.51 and a quick ratio of 8.56. The stock's 50-day moving average is $51.37 and its two-hundred day moving average is $56.56.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.01). MP Materials had a negative net margin of 19.85% and a negative return on equity of 1.21%. The business had revenue of $108.49 million during the quarter, compared to analyst estimates of $96.89 million. During the same period in the prior year, the firm earned ($0.13) earnings per share. The firm's revenue was up 89.0% compared to the same quarter last year. As a group, equities research analysts forecast that MP Materials Corp. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MP shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of MP Materials in a report on Tuesday. Wall Street Zen downgraded shares of MP Materials from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Citigroup restated a "positive" rating on shares of MP Materials in a report on Wednesday, July 15th. Zacks Research cut MP Materials from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 26th. Finally, Morgan Stanley reissued an "overweight" rating on shares of MP Materials in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $78.21.

MP Materials Company 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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