Yaupon Capital Management LP Purchases Shares of 202,896 MP Materials Corp. $MP

Key Points

• Yaupon Capital Management LP acquired 202,896 shares of MP Materials Corp. valued at approximately $4.95 million, representing 0.12% ownership of the company.
• Several hedge funds significantly increased their holdings in MP Materials during the 1st quarter, with NBC Securities Inc. raising its position by 119,900%.
• MP Materials reported revenue of $57.39 million in its last quarterly earnings, beating the consensus estimate and showing an 83.6% year-over-year growth.

Yaupon Capital Management LP purchased a new position in MP Materials Corp. (NYSE:MP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 202,896 shares of the company's stock, valued at approximately $4,953,000. Yaupon Capital Management LP owned approximately 0.12% of MP Materials as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MP. NBC Securities Inc. increased its holdings in MP Materials by 119,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,199 shares during the period. MAI Capital Management grew its position 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 worth $34,000 after buying an additional 800 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of MP Materials during the first quarter worth approximately $35,000. Banque Cantonale Vaudoise purchased a new stake in shares of MP Materials during the first quarter worth approximately $35,000. Finally, IFP Advisors Inc raised its holdings in MP Materials by 47.8% in the first quarter. IFP Advisors Inc now owns 2,970 shares of the company's stock valued at $76,000 after acquiring an additional 960 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Price Performance

Shares of NYSE:MP opened at $62.67 on Tuesday. The company's fifty day moving average price is $60.66 and its 200 day moving average price is $37.73. MP Materials Corp. has a 12 month low of $13.20 and a 12 month high of $82.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The firm has a market capitalization of $11.10 billion, a P/E ratio of -99.48 and a beta of 2.32.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company had revenue of $57.39 million during the quarter, compared to the consensus estimate of $44.84 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. MP Materials's revenue for the quarter was up 83.6% on a year-over-year basis. As a group, sell-side analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief operating officer owned 1,284,409 shares in the company, valued at $92,503,136.18. This trade represents a 10.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on MP shares. Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Morgan Stanley set a $65.00 target price on shares of MP Materials and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. DA Davidson increased their target price on MP Materials from $32.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. JPMorgan Chase & Co. lifted their price target on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Cfra Research raised MP Materials to a "moderate buy" rating in a research report on Monday, August 11th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, MP Materials presently has a consensus rating of "Moderate Buy" and an average target price of $66.88.

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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