Prescott Group Capital Management L.L.C. Has $782,000 Holdings in MP Materials Corp. $MP

Prescott Group Capital Management L.L.C. raised its holdings in shares of MP Materials Corp. (NYSE:MP) by 182.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,480 shares of the company’s stock after buying an additional 10,000 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in MP Materials were worth $782,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Costello Asset Management INC lifted its holdings in shares of MP Materials by 15.0% during the fourth quarter. Costello Asset Management INC now owns 1,300 shares of the company’s stock worth $66,000 after buying an additional 170 shares during the last quarter. Composition Wealth LLC lifted its holdings in shares of MP Materials by 0.9% during the fourth quarter. Composition Wealth LLC now owns 18,334 shares of the company’s stock worth $926,000 after buying an additional 172 shares during the last quarter. IMG Wealth Management Inc. lifted its holdings in shares of MP Materials by 4.7% during the third quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock worth $298,000 after buying an additional 200 shares during the last quarter. ARS Investment Partners LLC lifted its holdings in shares of MP Materials by 1.0% during the fourth quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock worth $1,009,000 after buying an additional 200 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in shares of MP Materials by 1.0% during the second quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock worth $713,000 after buying an additional 204 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Stock Performance

Shares of NYSE MP opened at $56.29 on Thursday. The business has a fifty day simple moving average of $58.62 and a 200 day simple moving average of $59.14. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of -134.01 and a beta of 1.90. MP Materials Corp. has a one year low of $18.64 and a one year high of $100.25.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The business had revenue of $90.65 million during the quarter, compared to analyst estimates of $74.82 million. During the same period in the prior year, the company posted ($0.12) earnings per share. MP Materials’s revenue was up 49.1% on a year-over-year basis. Sell-side analysts expect that MP Materials Corp. will post 0.1 EPS for the current year.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 46,000 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $60.00, for a total transaction of $2,760,000.00. Following the completion of the transaction, the chief financial officer directly owned 129,017 shares in the company, valued at $7,741,020. This represents a 26.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael Stuart Rosenthal acquired 17,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $56.62 per share, with a total value of $962,540.00. Following the completion of the purchase, the chief operating officer directly owned 1,333,673 shares of the company’s stock, valued at approximately $75,512,565.26. This represents a 1.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 666,000 shares of company stock worth $43,103,382 over the last three months. 8.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on MP. Canaccord Genuity Group set a $82.00 target price on MP Materials in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research note on Tuesday, April 21st. Wedbush upped their target price on MP Materials from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research note on Wednesday. Finally, TD Securities upgraded MP Materials to a “strong-buy” rating in a research note on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $81.00.

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.