Allianz Asset Management GmbH Buys Shares of 136,788 MP Materials Corp. $MP

Allianz Asset Management GmbH bought a new position in MP Materials Corp. (NYSE:MP) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 136,788 shares of the company’s stock, valued at approximately $9,174,000. Allianz Asset Management GmbH owned about 0.08% of MP Materials as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC raised its stake in MP Materials by 420.0% during the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 294 shares during the period. Spire Wealth Management lifted its holdings in MP Materials by 181.3% in the second quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock valued at $34,000 after acquiring an additional 651 shares during the last quarter. Grove Bank & Trust purchased a new position in MP Materials in the third quarter worth approximately $34,000. SJS Investment Consulting Inc. increased its stake in MP Materials by 4,600.0% during the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock worth $38,000 after acquiring an additional 552 shares during the last quarter. Finally, Hilltop National Bank increased its stake 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 acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 38,146 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 156,666 shares of the company’s stock, valued at approximately $9,399,960. The trade was a 19.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James H. Litinsky sold 272,600 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $64.17, for a total value of $17,492,742.00. Following the transaction, the chief executive officer owned 12,805,965 shares in the company, valued at $821,758,774.05. This represents a 2.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 991,557 shares of company stock worth $62,785,202 in the last quarter. Insiders own 9.50% of the company’s stock.

MP Materials Stock Up 8.5%

MP stock opened at $61.35 on Monday. The company’s 50 day moving average is $59.80 and its two-hundred day moving average is $64.98. MP Materials Corp. has a twelve month low of $18.64 and a twelve month high of $100.25. 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 stock has a market cap of $10.87 billion, a P/E ratio of -86.41 and a beta of 1.60.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $49.72 million. During the same period last year, the business earned ($0.12) EPS. MP Materials’s revenue for the quarter was down 14.9% compared to the same quarter last year. Research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MP shares. DA Davidson reiterated a “buy” rating and set a $82.00 price target on shares of MP Materials in a report on Thursday, November 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a report on Thursday, January 22nd. Bank of America raised their price target on MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Morgan Stanley raised MP Materials from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $68.50 to $71.00 in a research note on Friday, December 5th. Finally, BMO Capital Markets upgraded MP Materials from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $76.00 to $75.00 in a research note on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.91.

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.