Trek Financial LLC Purchases Shares of 106,647 MP Materials Corp. $MP

Key Points

• Trek Financial LLC opened a new position in MP Materials, buying 106,647 shares worth about $5.39 million in the fourth quarter and ending with a 0.06% stake.
• Analysts remain broadly upbeat on the stock, with a consensus Buy rating and an average price target of $81; recent calls included upgrades from Wedbush and TD Securities.
• MP Materials reported better-than-expected first-quarter results, posting EPS of $0.03 on revenue of $90.65 million, while insiders, including the CEO and CFO, sold shares during the period.

Trek Financial LLC purchased a new stake in MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 106,647 shares of the company's stock, valued at approximately $5,388,000. Trek Financial LLC owned 0.06% of MP Materials at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new position in MP Materials in the 4th quarter valued at $26,000. Financial Consulate Inc. boosted its holdings in MP Materials by 555.3% in the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company's stock valued at $28,000 after purchasing an additional 472 shares during the period. Bessemer Group Inc. boosted its holdings in MP Materials by 75.9% in the 3rd quarter. Bessemer Group Inc. now owns 642 shares of the company's stock valued at $43,000 after purchasing an additional 277 shares during the period. Montag A & Associates Inc. boosted its holdings in MP Materials by 106.2% in the 3rd quarter. Montag A & Associates Inc. now owns 635 shares of the company's stock valued at $43,000 after purchasing an additional 327 shares during the period. Finally, Bogart Wealth LLC bought a new position in MP Materials in the 4th quarter valued at $47,000. 52.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on MP shares. DA Davidson reissued a "buy" rating and issued a $82.00 price target on shares of MP Materials in a report on Wednesday, March 11th. Wedbush raised their price target on shares of MP Materials from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Friday. TD Securities upgraded shares of MP Materials to a "strong-buy" rating in a research report on Monday, February 9th. Weiss Ratings restated a "sell (d-)" rating on shares of MP Materials in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $81.00.

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 259,179 shares of MP Materials stock in a transaction on Monday, April 20th. The shares were sold at an average price of $64.03, for a total value of $16,595,231.37. Following the transaction, the chief executive officer owned 12,505,965 shares in the company, valued at $800,756,938.95. This trade represents a 2.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Corbett sold 46,000 shares of MP Materials stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $60.00, for a total transaction of $2,760,000.00. Following the completion of the transaction, the chief financial officer owned 129,017 shares in the company, valued at approximately $7,741,020. The trade was a 26.28% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 366,000 shares of company stock worth $23,469,816. 8.20% of the stock is owned by corporate insiders.

MP Materials Stock Performance

MP Materials stock opened at $67.42 on Tuesday. The firm's fifty day moving average price is $58.70 and its 200-day moving average price is $59.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18. The stock has a market cap of $11.98 billion, a P/E ratio of -160.53 and a beta of 1.90. MP Materials Corp. has a fifty-two week low of $18.64 and a fifty-two week high of $100.25.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $90.65 million for the quarter, compared to analysts' expectations of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The business's quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.12) EPS. On average, equities research analysts expect that MP Materials Corp. will post 0.1 earnings per share for the current fiscal year.

MP Materials 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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