MP Materials Corp. $MP Shares Purchased by Aberdeen Group plc

Aberdeen Group plc raised its stake in shares of MP Materials Corp. (NYSE:MP) by 9.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,023 shares of the company’s stock after purchasing an additional 9,659 shares during the period. Aberdeen Group plc owned 0.07% of MP Materials worth $3,561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Highline Wealth Partners LLC purchased a new stake in MP Materials during the second quarter worth approximately $25,000. AdvisorNet Financial Inc grew its stake in 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 buying an additional 506 shares during the period. MAI Capital Management grew its stake in 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 during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in MP Materials during the first quarter worth approximately $35,000. Finally, Banque Cantonale Vaudoise purchased a new stake in MP Materials during the first quarter worth approximately $35,000. 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 stock in a transaction 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 represents a 10.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.50% of the stock is owned by company insiders.

MP Materials Trading Down 6.7%

NYSE MP opened at $83.85 on Friday. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $100.25. 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 company has a market capitalization of $14.85 billion, a price-to-earnings ratio of -133.10 and a beta of 2.32. The company’s fifty day moving average price is $71.81 and its two-hundred day moving average price is $46.81.

MP Materials (NYSE:MP) last posted 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. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The firm had revenue of $57.39 million for the quarter, compared to the consensus estimate of $44.84 million. During the same period in the prior year, the firm posted ($0.17) EPS. The firm’s revenue was up 83.6% compared to the same quarter last year. As a group, research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MP. Cfra Research upgraded shares of MP Materials to a “moderate buy” rating in a research note on Monday, August 11th. Morgan Stanley set a $69.00 price objective on shares of MP Materials in a research note on Wednesday, October 8th. BMO Capital Markets initiated coverage on shares of MP Materials in a research note on Thursday, October 9th. They set a “market perform” rating and a $76.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price 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. Finally, Cowen restated a “buy” rating on shares of MP Materials in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.