Trifecta Capital Advisors LLC Takes $143,000 Position in MP Materials Corp. $MP

Trifecta Capital Advisors LLC acquired a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,300 shares of the company's stock, valued at approximately $143,000.

A number of other hedge funds have also recently made changes to their positions in MP. Highline Wealth Partners LLC acquired a new position in shares of MP Materials during the second quarter valued at about $25,000. AdvisorNet Financial Inc grew its holdings in shares of MP Materials by 168.7% during the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock valued at $27,000 after buying an additional 506 shares during the last quarter. NBC Securities Inc. grew its holdings in shares of MP Materials by 119,900.0% during the first quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after buying an additional 1,199 shares during the last quarter. MAI Capital Management grew its holdings in shares of MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock valued at $34,000 after buying an additional 800 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of MP Materials during the first quarter valued at about $35,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MP has been the topic of several analyst reports. Benchmark restated a "buy" rating on shares of MP Materials in a report on Friday, August 29th. Cfra Research upgraded shares of MP Materials to a "moderate buy" rating in a report on Monday, August 11th. Robert W. Baird boosted their price target on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Cowen restated a "buy" rating on shares of MP Materials in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, MP Materials currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.78.

MP Materials Stock Performance

Shares of MP stock opened at $70.57 on Thursday. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of -112.02 and a beta of 2.32. 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 Corp. has a 52 week low of $15.56 and a 52 week high of $82.50. The firm's 50-day simple moving average is $69.40 and its two-hundred day simple moving average is $44.31.

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, topping the consensus estimate of ($0.16) by $0.03. The business had revenue of $57.39 million for the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company's revenue for the quarter was up 83.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. As a group, equities analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer owned 1,284,409 shares of the company's stock, valued at approximately $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 accessible through this link. Corporate insiders own 9.50% of the company's stock.

MP Materials Company 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.

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