WINTON GROUP Ltd Has $6.38 Million Position in MP Materials Corp. $MP

WINTON GROUP Ltd increased its holdings in shares of MP Materials Corp. (NYSE:MP) by 2,695.8% during the fourth quarter, Holdings Channel reports. The fund owned 126,312 shares of the company’s stock after acquiring an additional 121,794 shares during the quarter. WINTON GROUP Ltd’s holdings in MP Materials were worth $6,381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in MP. Royal Bank of Canada increased its holdings in shares of MP Materials by 26.5% during the 1st quarter. Royal Bank of Canada now owns 234,185 shares of the company’s stock worth $5,716,000 after acquiring an additional 49,052 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of MP Materials during the 1st quarter worth approximately $215,000. Integrated Wealth Concepts LLC acquired a new position in shares of MP Materials during the 1st quarter worth approximately $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of MP Materials by 4.6% during the 1st 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, Goldman Sachs Group Inc. increased its holdings in shares of MP Materials by 36.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company’s stock worth $4,734,000 after acquiring an additional 51,348 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Stock Performance

MP opened at $59.20 on Friday. The firm has a market cap of $10.54 billion, a P/E ratio of -140.96 and a beta of 1.86. MP Materials Corp. has a 52-week low of $23.26 and a 52-week high of $100.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18. The business’s fifty day moving average is $60.78 and its 200-day moving average is $59.75.

MP Materials (NYSE:MP) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. The company had revenue of $90.65 million for the quarter, compared to analyst estimates of $74.82 million. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.MP Materials’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.12) EPS. Sell-side analysts expect that MP Materials Corp. will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling

In other MP Materials news, COO Michael Stuart Rosenthal acquired 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $56.62 per share, for a total transaction of $962,540.00. Following the transaction, the chief operating officer directly owned 1,333,673 shares in the company, valued at $75,512,565.26. This represents a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James H. Litinsky sold 185,167 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $69.14, for a total value of $12,802,446.38. Following the sale, the chief executive officer owned 11,620,798 shares of the company’s stock, valued at approximately $803,461,973.72. This represents a 1.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,251,167 shares of company stock worth $82,131,654 in the last ninety days. 8.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MP. Needham & Company LLC assumed coverage on MP Materials in a report on Monday, June 1st. They set a “buy” rating and a $81.00 target price on the stock. Canaccord Genuity Group set a $82.00 price objective on MP Materials in a report on Friday, May 8th. Barclays assumed coverage on MP Materials in a report on Thursday, May 21st. They issued an “overweight” rating and a $69.00 price objective on the stock. Morgan Stanley upped their price objective on MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, William Blair reaffirmed an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $80.14.

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.