Verde Servicos Internacionais S.A. Purchases New Stake in MP Materials Corp. $MP

Key Points

• Verde Servicos Internacionais S.A. has acquired a new stake in MP Materials Corp., purchasing 14,000 shares valued at approximately $466,000, making it the firm’s 29th largest holding.
• MP Materials experienced notable analyst activity, with price targets raised by various firms, including Deutsche Bank's increase from $20.00 to $69.00 and a consensus rating of "Moderate Buy."
• COO Michael Stuart Rosenthal sold 150,000 shares on August 29th, resulting in a total transaction of over $10.8 million, which marked a 10.46% decrease in his ownership of the stock.

Verde Servicos Internacionais S.A. acquired a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,000 shares of the company's stock, valued at approximately $466,000. MP Materials comprises approximately 0.2% of Verde Servicos Internacionais S.A.'s holdings, making the stock its 29th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in shares of MP Materials during the 2nd quarter valued at approximately $25,000. AdvisorNet Financial Inc lifted its stake in MP Materials by 168.7% in the second quarter. AdvisorNet Financial Inc now owns 806 shares of the company's stock valued at $27,000 after purchasing an additional 506 shares during the last quarter. NBC Securities Inc. grew 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 valued at $29,000 after purchasing an additional 1,199 shares during the period. MAI Capital Management grew its holdings in 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 purchasing an additional 800 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in MP Materials in the first quarter worth $35,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were 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. This trade represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on MP shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Daiwa America raised shares of MP Materials to a "strong-buy" rating in a report on Monday, September 22nd. Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Benchmark reaffirmed a "buy" rating on shares of MP Materials in a report on Friday, August 29th. Finally, Jefferies Financial Group upgraded shares of MP Materials from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $74.00.

MP Materials Stock Up 2.5%

MP opened at $72.35 on Friday. The business's fifty day simple moving average is $69.62 and its 200 day simple moving average is $44.62. MP Materials Corp. has a 52 week low of $15.56 and a 52 week high of $82.50. The company has a quick ratio of 3.12, a current ratio of 3.60 and a debt-to-equity ratio of 0.83. The stock has a market cap of $12.81 billion, a PE ratio of -114.84 and a beta of 2.32.

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 analysts' consensus estimates of ($0.16) by $0.03. The firm had revenue of $57.39 million during the quarter, compared to analysts' expectations of $44.84 million. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The company's revenue for the quarter was up 83.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) EPS. As a group, research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

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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