Aire Advisors LLC Invests $248,000 in MP Materials Corp. $MP

Aire Advisors LLC purchased a new stake in MP Materials Corp. (NYSE:MP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,462 shares of the company’s stock, valued at approximately $248,000.

Other institutional investors have also bought and sold shares of the company. Harbour Investments Inc. boosted its stake in MP Materials by 32.9% in the second quarter. Harbour Investments Inc. now owns 1,220 shares of the company’s stock worth $41,000 after purchasing an additional 302 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in MP Materials by 2.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company’s stock worth $412,000 after purchasing an additional 358 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of MP Materials by 3.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,400 shares of the company’s stock worth $413,000 after acquiring an additional 458 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MP Materials by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock worth $265,000 after acquiring an additional 479 shares during the last quarter. Finally, CWM LLC raised its position in shares of MP Materials by 14.1% during the second quarter. CWM LLC now owns 4,070 shares of the company’s stock worth $135,000 after acquiring an additional 504 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Buying and Selling

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 value of $10,803,000.00. Following the completion of the transaction, the chief operating officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.50% of the company’s stock.

MP Materials Trading Down 9.0%

NYSE MP opened at $89.75 on Thursday. The stock has a 50-day simple moving average of $71.56 and a 200 day simple moving average of $46.40. The company has a market capitalization of $15.89 billion, a PE ratio of -142.46 and a beta of 2.32. The company has a current ratio of 3.60, a quick ratio of 3.12 and a debt-to-equity ratio of 0.83. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $100.25.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $57.39 million during 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 firm’s revenue was up 83.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) earnings per share. Research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

MP has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on MP Materials from $52.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. Daiwa America upgraded MP Materials to a “strong-buy” rating in a research report on Monday, September 22nd. Jefferies Financial Group upgraded MP Materials from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Friday, August 1st. Cowen restated a “buy” rating on shares of MP Materials in a research report on Friday, August 8th. Finally, DA Davidson boosted their target price on MP Materials from $32.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.80.

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.