Himension Capital Singapore PTE. LTD. Acquires 30,054 Shares of MP Materials Corp. $MP

Himension Capital Singapore PTE. LTD. increased its holdings in shares of MP Materials Corp. (NYSE:MP) by 28.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,016 shares of the company’s stock after acquiring an additional 30,054 shares during the quarter. MP Materials comprises 0.5% of Himension Capital Singapore PTE. LTD.’s portfolio, making the stock its 28th biggest holding. Himension Capital Singapore PTE. LTD.’s holdings in MP Materials were worth $6,516,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MP. EMC Capital Management acquired a new stake in MP Materials during the 4th quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of MP Materials in the fourth quarter valued at $26,000. REAP Financial Group LLC bought a new position in shares of MP Materials in the fourth quarter valued at about $26,000. Financial Consulate Inc. raised its position in shares of MP Materials by 555.3% in the fourth quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock valued at $28,000 after purchasing an additional 472 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of MP Materials during the 4th quarter worth about $28,000. Institutional investors own 52.55% of the company’s stock.

Insiders Place Their Bets

In related news, COO Michael Stuart Rosenthal acquired 17,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $56.62 per share, for a total transaction of $962,540.00. Following the purchase, the chief operating officer directly owned 1,333,673 shares in the company, valued at approximately $75,512,565.26. The trade was a 1.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James H. Litinsky sold 234,651 shares of MP Materials stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $65.87, for a total value of $15,456,461.37. Following the completion of the transaction, the chief executive officer directly owned 11,855,965 shares of the company’s stock, valued at $780,952,414.55. This represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 905,167 shares of company stock worth $60,161,837 in the last 90 days. Company insiders own 8.20% of the company’s stock.

MP Materials Price Performance

Shares of MP Materials stock opened at $46.13 on Wednesday. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of -109.83 and a beta of 1.86. MP Materials Corp. has a twelve month low of $43.82 and a twelve month high of $100.25. The company has a 50-day simple moving average of $57.42 and a two-hundred day simple moving average of $59.12.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on MP. DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of MP Materials in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft decreased their target price on MP Materials from $70.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Morgan Stanley increased their target price on MP Materials from $70.00 to $71.50 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Canaccord Genuity Group set a $82.00 price target on MP Materials in a report on Friday, May 8th. Finally, Needham & Company LLC initiated coverage on MP Materials in a research note on Monday, June 1st. They issued a “buy” rating and a $81.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, MP Materials currently has an average rating of “Buy” and an average target price of $79.25.

About MP Materials

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.