Sicart Associates LLC Lowers Stock Position in MP Materials Corp. $MP

Sicart Associates LLC trimmed its holdings in shares of MP Materials Corp. (NYSE:MP) by 52.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 187,327 shares of the company’s stock after selling 208,185 shares during the period. MP Materials makes up about 3.4% of Sicart Associates LLC’s investment portfolio, making the stock its 8th biggest position. Sicart Associates LLC owned 0.11% of MP Materials worth $12,564,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Caxton Associates LLP acquired a new position in MP Materials in the second quarter worth about $132,238,000. Invesco Ltd. grew its stake in shares of MP Materials by 14.3% in the 2nd quarter. Invesco Ltd. now owns 3,033,612 shares of the company’s stock valued at $100,928,000 after purchasing an additional 378,510 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of MP Materials by 76.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock worth $97,200,000 after buying an additional 1,264,243 shares in the last quarter. National Bank of Canada FI lifted its position in shares of MP Materials by 19,314.3% during the 2nd quarter. National Bank of Canada FI now owns 2,013,462 shares of the company’s stock worth $66,987,000 after buying an additional 2,003,091 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of MP Materials by 429.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company’s stock worth $37,839,000 after buying an additional 1,257,282 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Stock Performance

MP Materials stock opened at $53.41 on Wednesday. The stock has a 50-day simple moving average of $64.66 and a 200 day simple moving average of $58.95. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of -75.22 and a beta of 1.69. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 12-month low of $15.56 and a 12-month high of $100.25.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The firm had revenue of $53.55 million during the quarter, compared to analysts’ expectations of $49.72 million. During the same quarter last year, the company posted ($0.12) EPS. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. On average, research analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MP has been the topic of a number of analyst reports. Daiwa America upgraded MP Materials to a “strong-buy” rating in a research report on Monday, September 22nd. Daiwa Capital Markets began coverage on shares of MP Materials in a research note on Monday, September 22nd. They issued an “outperform” rating and a $80.00 target price on the stock. BMO Capital Markets upgraded shares of MP Materials from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $76.00 to $75.00 in a research report on Monday, November 24th. Wall Street Zen lowered shares of MP Materials from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of MP Materials from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $71.00 in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.91.

Insider Buying and Selling

In related news, CEO James H. Litinsky sold 385,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $62.94, for a total value of $24,231,900.00. Following the completion of the transaction, the chief executive officer owned 13,105,965 shares in the company, valued at $824,889,437.10. The trade was a 2.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ryan Corbett sold 38,146 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total value of $2,288,760.00. Following the transaction, the chief financial officer directly owned 156,666 shares in the company, valued at approximately $9,399,960. This represents a 19.58% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 691,557 shares of company stock valued at $43,538,586. 12.60% of the stock is currently owned by company insiders.

About MP Materials

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.