MP Materials Corp. $MP is Cooperman Leon G’s 4th Largest Position

Cooperman Leon G lowered its holdings in shares of MP Materials Corp. (NYSE:MP) by 7.4% in the third quarter, HoldingsChannel.com reports. The fund owned 3,000,000 shares of the company’s stock after selling 240,000 shares during the quarter. MP Materials comprises about 6.3% of Cooperman Leon G’s investment portfolio, making the stock its 4th biggest holding. Cooperman Leon G’s holdings in MP Materials were worth $201,210,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Sound Income Strategies LLC increased its stake in shares of MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 294 shares in the last quarter. Grove Bank & Trust purchased a new stake in MP Materials in the 3rd quarter valued at approximately $34,000. SJS Investment Consulting Inc. grew its holdings in MP Materials by 4,600.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock valued at $38,000 after buying an additional 552 shares during the last quarter. Hilltop National Bank increased its position in MP Materials by 500.0% during the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock worth $40,000 after buying an additional 500 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in MP Materials by 75.9% during the third quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock worth $43,000 after buying an additional 277 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO James H. Litinsky sold 272,600 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the completion of the transaction, the chief executive officer owned 12,805,965 shares of the company’s stock, valued at approximately $821,758,774.05. This represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. BMO Capital Markets upgraded MP Materials from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $76.00 to $75.00 in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a report on Thursday, January 22nd. DA Davidson reaffirmed a “buy” rating and set a $82.00 price target on shares of MP Materials in a research note on Wednesday. Finally, TD Securities upgraded shares of MP Materials to a “strong-buy” rating in a report on Monday, February 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $78.91.

MP Materials Trading Down 4.7%

Shares of MP stock opened at $57.19 on Friday. The firm has a market cap of $10.14 billion, a P/E ratio of -109.98 and a beta of 1.55. MP Materials Corp. has a 1-year low of $18.64 and a 1-year high of $100.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.24 and a quick ratio of 6.67. The firm’s 50-day simple moving average is $61.65 and its 200-day simple moving average is $63.42.

MP Materials 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.