Valeo Financial Advisors LLC Takes Position in MP Materials Corp. $MP

Key Points

• Valeo Financial Advisors LLC has acquired 450,791 shares of MP Materials Corp., representing a roughly $15 million investment and a total ownership of 0.28% of the company.
• MP Materials reported a revenue of $57.39 million for the last quarter, significantly exceeding analysts' expectations of $44.84 million, while also beating EPS estimates by $0.03.
• Analysts have a consensus rating of "Moderate Buy" for MP Materials, with a price target averaging around $68.33, indicating positive sentiment about future performance.

Valeo Financial Advisors LLC purchased a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 450,791 shares of the company's stock, valued at approximately $14,998,000. Valeo Financial Advisors LLC owned 0.28% of MP Materials at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MP. Highline Wealth Partners LLC purchased a new position in MP Materials during the 2nd quarter worth $25,000. AdvisorNet Financial Inc increased its stake in shares of MP Materials by 168.7% during the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock worth $27,000 after acquiring an additional 506 shares during the period. NBC Securities Inc. raised its holdings in 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. MAI Capital Management lifted its position in MP Materials by 132.7% in the first quarter. MAI Capital Management now owns 1,403 shares of the company's stock valued at $34,000 after purchasing an additional 800 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in MP Materials in the 1st quarter valued at approximately $35,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

MP Materials Price Performance

Shares of NYSE MP opened at $71.37 on Monday. 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 company's 50-day moving average price is $68.73 and its 200 day moving average price is $43.58. MP Materials Corp. has a 52 week low of $15.56 and a 52 week high of $82.50. The stock has a market cap of $12.64 billion, a price-to-earnings ratio of -113.29 and a beta of 2.32.

MP Materials (NYSE:MP - Get Free Report) last announced its earnings results 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 return on equity of 9.34% and a negative net margin of 41.87%.The firm had revenue of $57.39 million for the quarter, compared to analysts' expectations of $44.84 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. MP Materials's quarterly revenue was up 83.6% on a year-over-year basis. As a group, research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Transactions at MP Materials

In other 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.60% of the company's stock.

Analysts Set New Price Targets

MP has been the subject of a number of analyst reports. Cowen reissued a "buy" rating on shares of MP Materials in a research note on Friday, August 8th. Daiwa Capital Markets initiated coverage on MP Materials in a report on Monday, September 22nd. They issued an "outperform" rating and a $80.00 target price for the company. Robert W. Baird boosted their target price on shares of MP Materials from $52.00 to $69.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Morgan Stanley set a $65.00 price target on shares of MP Materials and gave the company an "equal weight" rating in a report on Thursday, July 31st. Finally, Benchmark reiterated a "buy" rating on shares of MP Materials in a research note on Friday, August 29th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.33.

MP Materials 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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