Nikko Asset Management Americas Inc. Decreases Stake in MP Materials Corp. (NYSE:MP)

Nikko Asset Management Americas Inc. lessened its stake in MP Materials Corp. (NYSE:MP) by 9.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,887 shares of the company’s stock after selling 2,838 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in MP Materials were worth $404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Oak Family Advisors LLC acquired a new stake in shares of MP Materials during the 4th quarter valued at approximately $530,000. Segall Bryant & Hamill LLC raised its holdings in MP Materials by 32.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after purchasing an additional 306,933 shares during the last quarter. Quest Partners LLC boosted its position in MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock worth $758,000 after purchasing an additional 38,204 shares in the last quarter. SG Americas Securities LLC grew its holdings in MP Materials by 167.3% in the fourth quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock valued at $560,000 after purchasing an additional 22,473 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of MP Materials in the third quarter valued at $2,300,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. BMO Capital Markets increased their price objective on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Canaccord Genuity Group increased their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

MP Materials Stock Down 0.5 %

Shares of NYSE MP opened at $26.70 on Tuesday. The firm has a market cap of $4.36 billion, a P/E ratio of -45.25 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $27.05. The firm’s 50 day moving average price is $22.83 and its 200 day moving average price is $19.41.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (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 business had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. As a group, sell-side analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Activity at MP Materials

In related news, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total value of $9,273,214.23. Following the transaction, the chief executive officer now owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.60% of the stock is owned by insiders.

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.