Maryland State Retirement & Pension System Decreases Stake in MP Materials Corp. (NYSE:MP)

Maryland State Retirement & Pension System trimmed its holdings in shares of MP Materials Corp. (NYSE:MP) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,655 shares of the company’s stock after selling 656 shares during the quarter. Maryland State Retirement & Pension System’s holdings in MP Materials were worth $743,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Captrust Financial Advisors increased its holdings in MP Materials by 5.0% during the 3rd quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock worth $207,000 after purchasing an additional 557 shares during the last quarter. SWS Partners increased its stake in shares of MP Materials by 0.4% in the fourth quarter. SWS Partners now owns 162,503 shares of the company’s stock worth $2,535,000 after buying an additional 707 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in MP Materials by 4.0% in the fourth quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company’s stock valued at $605,000 after acquiring an additional 1,500 shares in the last quarter. GAMMA Investing LLC boosted its stake in MP Materials by 69.3% during the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock valued at $59,000 after acquiring an additional 1,545 shares during the last quarter. Finally, KBC Group NV grew its holdings in MP Materials by 33.0% during the 4th quarter. KBC Group NV now owns 6,297 shares of the company’s stock worth $98,000 after acquiring an additional 1,564 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Up 2.6 %

Shares of MP Materials stock opened at $26.57 on Tuesday. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $27.29. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of -45.03 and a beta of 2.32. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The business’s 50 day simple moving average is $23.50 and its 200-day simple moving average is $19.87.

MP Materials (NYSE:MP) last posted its 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 net margin of 32.09% and a negative return on equity of 8.44%. The company had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. Equities research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MP. BMO Capital Markets upped their target price on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. Canaccord Genuity Group increased their target price on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, DA Davidson upped their price target on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.61.

Insider Buying and Selling at MP Materials

In related news, CEO James H. Litinsky sold 161,175 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $26.94, for a total transaction of $4,342,054.50. Following the sale, the chief executive officer now owns 14,352,689 shares of the company’s stock, valued at $386,661,441.66. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ryan Corbett sold 15,000 shares of the 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 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 in the last ninety days. Company insiders own 12.60% of the company’s stock.

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.