Tandem Financial LLC Buys Shares of 44,774 MP Materials Corp. (NYSE:MP)

Tandem Financial LLC purchased a new position in MP Materials Corp. (NYSE:MP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 44,774 shares of the company’s stock, valued at approximately $698,000. MP Materials comprises 0.7% of Tandem Financial LLC’s holdings, making the stock its 28th largest position.

Several other large investors also recently modified their holdings of MP. Captrust Financial Advisors raised its position in MP Materials by 5.0% in the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock worth $207,000 after acquiring an additional 557 shares during the period. Cutter & CO Brokerage Inc. increased its stake in shares of MP Materials by 0.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 190,098 shares of the company’s stock worth $3,355,000 after purchasing an additional 910 shares in the last quarter. Pekin Hardy Strauss Inc. raised its holdings in MP Materials by 0.4% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company’s stock worth $4,509,000 after purchasing an additional 1,135 shares during the period. KBC Group NV lifted its position in MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after purchasing an additional 1,246 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in MP Materials by 136.0% during the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after purchasing an additional 1,285 shares during the period. Institutional investors own 52.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Canaccord Genuity Group raised their price objective on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. raised their target price on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, BMO Capital Markets upped their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.45.

Insider Transactions at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of MP Materials stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the transaction, the chief financial officer now directly owns 260,021 shares of the company’s stock, valued at $5,590,451.50. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the sale, the chief executive officer now owns 18,221,776 shares in the company, valued at approximately $336,191,767.20. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,271,085 shares of company stock valued at $26,757,696. 12.60% of the stock is currently owned by insiders.

MP Materials Price Performance

Shares of MP opened at $24.08 on Friday. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $24.80. The company has a 50 day simple moving average of $19.66 and a two-hundred day simple moving average of $17.10.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The company had revenue of $62.93 million during the quarter, compared to analysts’ expectations of $45.30 million. MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. During the same quarter in the previous year, the firm earned $0.02 EPS. Sell-side analysts anticipate that MP Materials Corp. will post -0.54 earnings per share for the current year.

About MP Materials

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It 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.