Segall Bryant & Hamill LLC Reduces Stake in MP Materials Corp. (NYSE:MP)

Segall Bryant & Hamill LLC cut its position in shares of MP Materials Corp. (NYSE:MP) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,236,285 shares of the company’s stock after selling 9,511 shares during the quarter. Segall Bryant & Hamill LLC owned 0.76% of MP Materials worth $19,286,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in MP Materials in the 4th quarter valued at approximately $6,284,000. Proficio Capital Partners LLC acquired a new stake in shares of MP Materials during the fourth quarter valued at $399,000. Oak Family Advisors LLC purchased a new stake in MP Materials during the 4th quarter worth about $530,000. SG Americas Securities LLC lifted its holdings in MP Materials by 167.3% in the 4th 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 in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of MP Materials during the 3rd quarter worth about $2,300,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MP shares. DA Davidson boosted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. 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 report on Wednesday, November 27th. Finally, BMO Capital Markets upped their target price on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, MP Materials currently has an average rating of “Moderate Buy” and an average target price of $23.61.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 386,223 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 15,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,112,316 shares of company stock valued at $28,665,974 over the last quarter. Company insiders own 12.60% of the company’s stock.

MP Materials Stock Performance

NYSE MP opened at $26.95 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $27.29. The firm has a market capitalization of $4.40 billion, a P/E ratio of -45.68 and a beta of 2.32. The business’s 50-day simple moving average is $23.66 and its 200-day simple moving average is $19.96.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Equities analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

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.