3,568 Shares in MP Materials Corp. $MP Acquired by Twin Tree Management LP

Key Points

• Twin Tree Management LP has made a new investment in MP Materials Corp. by purchasing 3,568 shares valued at approximately $87,000 during the first quarter of the year.
• The company reported a significant revenue growth of 83.6% year-over-year, with quarterly earnings of $57.39 million, exceeding analyst expectations.
• MP Materials has received multiple analyst upgrades, with Jefferies Financial Group raising its rating to "buy" and setting a target price of $80.00 for the stock.

Twin Tree Management LP bought a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,568 shares of the company's stock, valued at approximately $87,000.

Other institutional investors have also made changes to their positions in the company. NBC Securities Inc. lifted its position 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 worth $29,000 after purchasing an additional 1,199 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of MP Materials in the first quarter worth $35,000. Banque Cantonale Vaudoise bought a new stake in shares of MP Materials in the first quarter worth $35,000. IFP Advisors Inc increased its stake in MP Materials by 47.8% during the first quarter. IFP Advisors Inc now owns 2,970 shares of the company's stock valued at $76,000 after purchasing an additional 960 shares during the last quarter. Finally, CX Institutional bought a new stake in MP Materials during the first quarter valued at $79,000. 52.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Morgan Stanley set a $65.00 target price on shares of MP Materials and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Robert W. Baird boosted their target price on shares of MP Materials from $52.00 to $69.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Jefferies Financial Group upgraded shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, August 1st. Finally, Cfra Research upgraded shares of MP Materials to a "moderate buy" rating in a research report on Monday, August 11th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $66.88.

Insider Transactions at MP Materials

In other MP Materials 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 sale, the chief operating officer owned 1,284,409 shares in the company, valued at approximately $92,503,136.18. The trade was a 10.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.50% of the company's stock.

MP Materials Price Performance

MP stock traded down $1.97 during trading on Thursday, hitting $64.03. The company had a trading volume of 5,726,733 shares, compared to its average volume of 9,269,729. MP Materials Corp. has a fifty-two week low of $13.20 and a fifty-two week high of $82.50. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $11.34 billion, a price-to-earnings ratio of -101.53 and a beta of 2.32. The business has a 50 day moving average of $58.91 and a 200 day moving average of $36.71.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $57.39 million for the quarter, compared to the consensus estimate of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The business's revenue for the quarter was up 83.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. As a group, research analysts predict 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.