Teza Capital Management LLC Sells 18,854 Shares of MP Materials Corp. $MP

Key Points

• Teza Capital Management LLC reduced its stake in MP Materials Corp. by 52.6% during the 1st quarter, owning 16,976 shares valued at $414,000.
• Several hedge funds increased their positions in MP Materials, with 52.55% of the stock now owned by institutional investors and hedge funds.
• MP Materials stock has a consensus rating of "Moderate Buy" among analysts, with an average price target of $66.88 after recent ratings updates.

Teza Capital Management LLC trimmed its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 52.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,976 shares of the company's stock after selling 18,854 shares during the period. Teza Capital Management LLC's holdings in MP Materials were worth $414,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 valued at $265,000 after purchasing an additional 479 shares during the period. Integrated Wealth Concepts LLC acquired a new position in MP Materials during the 1st quarter valued at about $219,000. Gotham Asset Management LLC raised its stake in shares of MP Materials by 7.2% in the 1st quarter. Gotham Asset Management LLC now owns 570,917 shares of the company's stock worth $13,936,000 after buying an additional 38,155 shares in the last quarter. AQR Capital Management LLC acquired a new stake in MP Materials in the 1st quarter valued at about $215,000. Finally, Amundi lifted its holdings in MP Materials by 561.2% in the 1st quarter. Amundi now owns 80,662 shares of the company's stock valued at $2,002,000 after acquiring an additional 68,462 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on MP. Cowen reissued a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Canaccord Genuity Group increased their price objective on MP Materials from $64.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. DA Davidson increased their price objective on MP Materials from $32.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of MP Materials from $20.00 to $69.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, MP Materials presently has a consensus rating of "Moderate Buy" and an average price target of $66.88.

Insider Transactions at MP Materials

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the transaction, the chief operating officer directly owned 1,284,409 shares in the company, valued at $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.60% of the stock is owned by corporate insiders.

MP Materials Stock Performance

Shares of NYSE:MP traded down $0.73 during midday trading on Wednesday, hitting $62.42. The company's stock had a trading volume of 7,007,530 shares, compared to its average volume of 9,241,183. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of -99.08 and a beta of 2.32. The stock's 50 day simple moving average is $61.30 and its 200 day simple moving average is $37.91. MP Materials Corp. has a fifty-two week low of $13.40 and a fifty-two week high of $82.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60.

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 analysts' consensus estimates of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The business had revenue of $57.39 million during the quarter, compared to analyst estimates of $44.84 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The firm's revenue for the quarter was up 83.6% 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.

About MP Materials

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.