MP Materials Corp. (NYSE:MP) Shares Sold by Philadelphia Trust Co.

Philadelphia Trust Co. reduced its position in MP Materials Corp. (NYSE:MP) by 3.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 154,502 shares of the company’s stock after selling 6,000 shares during the period. Philadelphia Trust Co.’s holdings in MP Materials were worth $2,410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MP. Raymond James Financial Inc. bought a new stake in shares of MP Materials in the 4th quarter valued at approximately $6,284,000. Proficio Capital Partners LLC acquired a new position in MP Materials in the fourth quarter worth $399,000. Oak Family Advisors LLC bought a new stake in MP Materials during the fourth quarter valued at $530,000. KLP Kapitalforvaltning AS acquired a new stake in shares of MP Materials during the fourth quarter worth $388,000. Finally, SG Americas Securities LLC lifted its position in shares of MP Materials by 167.3% in the 4th quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock worth $560,000 after buying an additional 22,473 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Ryan Corbett sold 60,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $25.51, for a total value of $1,530,600.00. Following the completion of the sale, the chief financial officer now directly owns 230,100 shares of the company’s stock, valued at approximately $5,869,851. This represents a 20.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 $375,590,254.76. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,130,835 shares of company stock worth $29,165,987 over the last ninety days. 12.60% of the stock is currently owned by company insiders.

MP Materials Stock Performance

MP opened at $22.65 on Friday. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $27.29. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of -38.38 and a beta of 2.24. The business has a 50 day moving average price of $24.45 and a two-hundred day moving average price of $20.91. 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 (NYSE:MP) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. Research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. 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. BMO Capital Markets raised their price target on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, MP Materials presently has an average rating of “Moderate Buy” and a consensus target price of $23.61.

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.