MP Materials Corp. (NYSE:MP) Shares Sold by Mirova

Mirova trimmed its position in shares of MP Materials Corp. (NYSE:MP) by 12.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,897 shares of the company’s stock after selling 10,687 shares during the period. Mirova’s holdings in MP Materials were worth $1,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in MP Materials by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company’s stock worth $322,000 after buying an additional 662 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after acquiring an additional 701 shares during the last quarter. SWS Partners boosted its stake in shares of MP Materials by 0.4% during the 4th quarter. SWS Partners now owns 162,503 shares of the company’s stock worth $2,535,000 after acquiring an additional 707 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of MP Materials by 4.0% during the 4th quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company’s stock worth $605,000 after acquiring an additional 1,500 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of MP Materials by 69.3% during the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after purchasing an additional 1,545 shares during the period. Institutional investors own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MP. BMO Capital Markets lifted their price target on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research note on Thursday, March 20th. DA Davidson lifted their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. 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 has an average rating of “Moderate Buy” and a consensus target price of $23.61.

MP Materials Stock Performance

Shares of MP opened at $26.24 on Friday. The company has a market capitalization of $4.29 billion, a PE ratio of -44.47 and a beta of 2.24. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The company’s 50 day moving average price is $24.67 and its 200 day moving average price is $21.22. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $29.72.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The company had revenue of $60.99 million for the quarter, compared to analysts’ expectations 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 expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. The trade was a 6.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 15,643,076 shares in the company, valued at $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,330,015 shares of company stock valued at $34,559,781 in the last three months. Insiders own 12.60% of the company’s stock.

MP Materials 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.