HWG Holdings LP Buys Shares of 32,746 MP Materials Corp. $MP

HWG Holdings LP bought a new position in MP Materials Corp. (NYSE:MP) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 32,746 shares of the company’s stock, valued at approximately $2,196,000.

Several other institutional investors have also recently made changes to their positions in MP. Sound Income Strategies LLC lifted its stake in MP Materials by 420.0% in the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 294 shares during the period. Grove Bank & Trust purchased a new position in MP Materials during the 3rd quarter valued at about $34,000. Hilltop National Bank raised its holdings in shares of MP Materials by 500.0% in the 3rd quarter. Hilltop National Bank now owns 600 shares of the company’s stock valued at $40,000 after purchasing an additional 500 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of MP Materials in the 2nd quarter valued at about $25,000. Finally, AdvisorNet Financial Inc lifted its position in shares of MP Materials by 168.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock worth $27,000 after purchasing an additional 506 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 385,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $824,889,437.10. This trade represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 38,146 shares of MP Materials stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the sale, the chief financial officer owned 156,666 shares of the company’s stock, valued at $9,399,960. The trade was a 19.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 691,557 shares of company stock worth $43,538,586 in the last 90 days. Insiders own 12.60% of the company’s stock.

MP Materials Stock Performance

Shares of MP stock opened at $54.27 on Tuesday. MP Materials Corp. has a 12-month low of $15.56 and a 12-month high of $100.25. The business’s fifty day simple moving average is $62.58 and its 200-day simple moving average is $59.79. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. The company has a market cap of $9.62 billion, a PE ratio of -76.44 and a beta of 1.70.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.05. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The firm had revenue of $53.55 million for the quarter, compared to the consensus estimate of $49.72 million. During the same period in the previous year, the business earned ($0.12) EPS. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. Analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. BMO Capital Markets raised shares of MP Materials from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $76.00 to $75.00 in a report on Monday, November 24th. Benchmark reiterated a “buy” rating on shares of MP Materials in a report on Friday, August 29th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research note on Wednesday, October 8th. Daiwa Capital Markets initiated coverage on MP Materials in a research report on Monday, September 22nd. They set an “outperform” rating and a $80.00 price objective on the stock. Finally, Bank of America boosted their target price on shares of MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.91.

MP Materials Company Profile

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.