Walleye Capital LLC Grows Stock Holdings in MP Materials Corp. (NYSE:MP)

Walleye Capital LLC increased its stake in shares of MP Materials Corp. (NYSE:MPGet Rating) by 34.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,204 shares of the company’s stock after buying an additional 6,523 shares during the period. Walleye Capital LLC’s holdings in MP Materials were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MP. Private Capital Group LLC purchased a new stake in MP Materials during the first quarter worth about $27,000. Elequin Capital LP purchased a new stake in shares of MP Materials in the first quarter valued at about $45,000. Stonebridge Capital Advisors LLC lifted its holdings in shares of MP Materials by 645.2% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 1,155 shares of the company’s stock valued at $52,000 after purchasing an additional 1,000 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of MP Materials in the first quarter valued at about $69,000. Finally, KRS Capital Management LLC purchased a new stake in shares of MP Materials in the fourth quarter valued at about $81,000. Hedge funds and other institutional investors own 71.49% of the company’s stock.

Insider Buying and Selling

In related news, Director Daniel Allen Gold sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $39.49, for a total transaction of $9,872,500.00. Following the completion of the transaction, the director now owns 1,302,031 shares of the company’s stock, valued at $51,417,204.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Daniel Allen Gold sold 250,000 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $39.49, for a total value of $9,872,500.00. Following the completion of the sale, the director now owns 1,302,031 shares of the company’s stock, valued at $51,417,204.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Financial Lp Qvt sold 23,600 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $34.43, for a total transaction of $812,548.00. Following the completion of the sale, the director now directly owns 1,288,458 shares of the company’s stock, valued at approximately $44,361,608.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,084,016 shares of company stock valued at $190,276,278. Insiders own 41.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of MP Materials in a report on Tuesday, May 31st. They issued an “outperform” rating and a $50.00 price target on the stock. Northland Securities reaffirmed an “outperform” rating and issued a $60.00 price target on shares of MP Materials in a report on Monday, June 6th. Morgan Stanley cut their price objective on shares of MP Materials from $46.00 to $45.50 and set an “overweight” rating for the company in a research report on Friday. Canaccord Genuity Group began coverage on shares of MP Materials in a research report on Wednesday, July 13th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Canaccord Genuity Group began coverage on shares of MP Materials in a research report on Wednesday, July 13th. They issued a “buy” rating for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MP Materials presently has a consensus rating of “Buy” and an average target price of $50.19.

MP Materials Stock Performance

Shares of MP stock opened at $31.38 on Friday. MP Materials Corp. has a one year low of $27.48 and a one year high of $60.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 19.75 and a current ratio of 20.39. The company has a 50 day moving average price of $33.47 and a 200 day moving average price of $38.66. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 1.55 and a beta of 2.83.

MP Materials (NYSE:MPGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.33 by $0.10. MP Materials had a net margin of 49.26% and a return on equity of 25.19%. The firm had revenue of $143.50 million during the quarter, compared to analyst estimates of $128.75 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. MP Materials’s revenue for the quarter was up 96.3% compared to the same quarter last year. Sell-side analysts anticipate that MP Materials Corp. will post 1.33 EPS for the current year.

MP Materials Profile

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MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.

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Institutional Ownership by Quarter for MP Materials (NYSE:MP)

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