Cwm LLC buys 7,957 shares of MP Materials Corp. (NYSE:MP)

Cwm LLC lifted its position in shares of MP Materials Corp. (NYSE:MP – Free Report) by 425.5% during the second quarter, Holdings Channel reports. The fund owned 9,827 shares of the company’s stock after purchasing an additional 7,957 shares during the quarter. Cwm LLC’s holdings in MP Materials were worth $125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have recently made changes to their positions in the company. Westwood Holdings Group Inc. boosted its holdings in MP Materials by 65.7% in the first quarter. Westwood Holdings Group Inc. now owns 81,621 shares of the company’s stock worth $1,167,000 after purchasing an additional 32,354 shares during the period. Aurora Investment Counsel boosted its stake in MP Materials by 14.9% in the first quarter. Aurora Investment Counsel now owns 65,031 shares of the company’s stock valued at $930,000 after purchasing an additional 8,451 shares during the period. Verity Asset Management Inc. boosted its holdings in MP Materials by 51.5% in the first quarter. Verity Asset Management Inc. now owns 78,747 shares of the company’s stock worth $1,126,000 after purchasing an additional 26,759 shares during the last quarter. Teacher Retirement System of The State of Kentucky boosted its stake in MP Materials by 12.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 47,179 shares of the company’s stock worth $675,000 after acquiring an additional 5,200 shares during the period. Finally, Virtu Financial LLC purchased a new position in MP Materials in the first quarter valued at about $356,000. Institutional investors own 52.55% of the company’s shares.

Insider buying and selling at MP Materials

In other news, CFO Ryan Corbett sold 50,000 shares of MP Materials stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the sale, the chief financial officer now owns 325,021 shares of the company’s stock, valued at approximately $5,502,605.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, COO Michael Stuart Rosenthal acquired 30,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $10.84 per share, with a total value of $325,200.00. Following the completion of the transaction, the chief operating officer now directly owns 1,402,975 shares of the company’s stock, valued at approximately $15,208,249. The acquisition was disclosed in a filing with the SEC, which is accessible via this link. Also, CFO Ryan Corbett sold 50,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the transaction, the chief financial officer now owns 325,021 shares of the company’s stock, valued at $5,502,605.53. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s shares.

Analyst upgrades and downgrades

A number of equities analysts recently commented on MP shares. Morgan Stanley reduced their price objective on shares of MP Materials from $15.50 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Bank of America cut their price objective on shares of MP Materials from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft cut their price target on shares of MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Robert W. Baird dropped their price objective on shares of MP Materials from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. cut their price target on MP Materials from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Moderate Buy” and an average price target of $20.22, based on data from MarketBeat.com.

View the latest analysis of MP materials

Price performance of MP materials

Shares of MP Materials opened at $11.89 on Friday. The company has a fifty day simple moving average of $13.32 and a two hundred day simple moving average of $14.94. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $22.81. The firm has a market cap of $1.97 billion, a PE ratio of -79.27 and a beta of 2.22. The company has a quick ratio of 9.28, a current ratio of 10.29, and a debt-to-equity ratio of 0.82.

MP Materials (NYSE:MP – Get Free Report ) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.08). MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.13%. The business had revenue of $31.26 million for the quarter, compared to analysts’ expectations of $40.03 million. In the same quarter last year, the firm earned $0.07 EPS. The company’s revenue for the quarter was down 51.2% on a year-over-year basis. As a group, equities analysts expect MP Materials Corp. to record -0.34 EPS for the current year.

About MP Materials

(Free Report)

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