15,376 Shares in MP Materials Corp. $MP Purchased by Pinpoint Asset Management Singapore Pte. Ltd.

Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of MP Materials Corp. (NYSE:MP) in the fourth quarter, Holdings Channel reports. The institutional investor bought 15,376 shares of the company’s stock, valued at approximately $777,000.

Other hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of MP Materials during the 4th quarter worth about $26,000. REAP Financial Group LLC acquired a new stake in shares of MP Materials during the 4th quarter worth about $26,000. Los Angeles Capital Management LLC acquired a new stake in shares of MP Materials during the 4th quarter worth about $28,000. Financial Consulate Inc. increased its position in shares of MP Materials by 555.3% during the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares in the last quarter. Finally, Montag A & Associates Inc. increased its position in MP Materials by 106.2% in the 3rd quarter. Montag A & Associates Inc. now owns 635 shares of the company’s stock valued at $43,000 after acquiring an additional 327 shares in 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 20,000 shares of MP Materials stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief financial officer owned 109,017 shares in the company, valued at $8,176,275. The trade was a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Stuart Rosenthal purchased 10,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $54.30 per share, with a total value of $543,000.00. Following the transaction, the chief operating officer owned 136,622 shares in the company, valued at $7,418,574.60. This trade represents a 7.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 1,251,167 shares of company stock worth $82,131,654 in the last quarter. 8.20% of the stock is owned by company insiders.

MP Materials Trading Up 0.9%

MP opened at $57.70 on Friday. 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 stock has a market capitalization of $10.27 billion, a PE ratio of -137.37 and a beta of 1.86. MP Materials Corp. has a 1-year low of $28.35 and a 1-year high of $100.25. The firm has a 50-day moving average price of $61.48 and a two-hundred day moving average price of $59.68.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Canaccord Genuity Group set a $82.00 price objective on shares of MP Materials in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of MP Materials in a research report on Tuesday, May 12th. Barclays assumed coverage on shares of MP Materials in a research report on Thursday, May 21st. They issued an “overweight” rating and a $69.00 price objective for the company. Finally, DA Davidson restated a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a research report on Friday, June 5th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $80.14.

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.