KLP Kapitalforvaltning AS Purchases New Holdings in MP Materials Corp. (NYSE:MP)

KLP Kapitalforvaltning AS purchased a new stake in MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,900 shares of the company's stock, valued at approximately $388,000.

A number of other large investors have also recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of MP Materials in the fourth quarter valued at about $6,284,000. Principal Financial Group Inc. boosted its holdings in MP Materials by 48.7% in the 4th quarter. Principal Financial Group Inc. now owns 899,698 shares of the company's stock valued at $14,035,000 after purchasing an additional 294,806 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in MP Materials during the 4th quarter worth approximately $4,550,000. Wealthfront Advisers LLC purchased a new position in shares of MP Materials during the 4th quarter worth approximately $4,484,000. Finally, Monaco Asset Management SAM acquired a new stake in shares of MP Materials in the 4th quarter valued at approximately $2,340,000. Institutional investors and hedge funds own 52.55% of the company's stock.

MP Materials Price Performance

Shares of NYSE:MP traded up $1.85 on Wednesday, hitting $23.79. The company had a trading volume of 7,107,274 shares, compared to its average volume of 3,164,897. 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 company has a market cap of $3.89 billion, a PE ratio of -40.31 and a beta of 2.24. The business has a 50 day moving average of $24.47 and a 200 day moving average of $20.81. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $27.29.

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MP Materials (NYSE:MP - Get Free Report) 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 business had revenue of $60.99 million during 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%. As a group, equities analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Transactions at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the transaction, the chief financial officer now owns 230,100 shares in the company, valued at $5,869,851. The trade was a 20.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James H. Litinsky sold 18,519 shares of MP Materials stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $27.00, for a total value of $500,013.00. Following the sale, the chief executive officer now owns 13,842,256 shares in the company, valued at $373,740,912. This represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,130,835 shares of company stock worth $29,165,987 in the last three months. 12.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. DA Davidson raised their target price on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. BMO Capital Markets raised their price objective 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, MP Materials presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.61.

About MP Materials

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.