Monaco Asset Management SAM Invests $2.34 Million in MP Materials Corp. (NYSE:MP)

Monaco Asset Management SAM bought a new position in shares of MP Materials Corp. (NYSE:MP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 150,000 shares of the company’s stock, valued at approximately $2,340,000. MP Materials makes up about 0.3% of Monaco Asset Management SAM’s holdings, making the stock its 27th biggest holding. Monaco Asset Management SAM owned about 0.09% of MP Materials as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MP. Swiss National Bank increased its stake in shares of MP Materials by 0.7% in the 4th quarter. Swiss National Bank now owns 243,900 shares of the company’s stock worth $3,805,000 after acquiring an additional 1,700 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of MP Materials in the 4th quarter worth $4,550,000. Avantax Advisory Services Inc. increased its stake in shares of MP Materials by 10.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 23,179 shares of the company’s stock worth $362,000 after acquiring an additional 2,240 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of MP Materials in the 4th quarter worth $4,484,000. Finally, Essex Investment Management Co. LLC increased its stake in shares of MP Materials by 7.6% in the 4th quarter. Essex Investment Management Co. LLC now owns 127,706 shares of the company’s stock worth $1,992,000 after acquiring an additional 9,058 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Stock Up 0.2 %

NYSE:MP opened at $24.38 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. The stock’s fifty day moving average is $22.53 and its two-hundred day moving average is $19.12. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $26.00. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -41.32 and a beta of 2.32.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The firm had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. Research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Insiders Place Their Bets

In other MP Materials news, CEO James H. Litinsky sold 386,223 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the transaction, the chief executive officer now owns 15,643,076 shares in the company, valued at $375,590,254.76. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MP has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their target price on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets lifted their target price on MP Materials from $19.50 to $22.00 and gave the company 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.45.

MP Materials Company Profile

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.