Oak Family Advisors LLC Buys Shares of 33,952 MP Materials Corp. (NYSE:MP)

Oak Family Advisors LLC bought a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 33,952 shares of the company's stock, valued at approximately $530,000.

Several other hedge funds also recently added to or reduced their stakes in MP. Captrust Financial Advisors lifted its stake in shares of MP Materials by 5.0% during the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company's stock worth $207,000 after buying an additional 557 shares during the period. Cutter & CO Brokerage Inc. lifted its position in MP Materials by 0.5% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 190,098 shares of the company's stock worth $3,355,000 after acquiring an additional 910 shares during the period. Pekin Hardy Strauss Inc. grew its stake in MP Materials by 0.4% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company's stock valued at $4,509,000 after purchasing an additional 1,135 shares during the last quarter. KBC Group NV increased its holdings in shares of MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company's stock valued at $84,000 after purchasing an additional 1,246 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of MP Materials by 136.0% in the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company's stock worth $39,000 after purchasing an additional 1,285 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the transaction, the chief financial officer now owns 260,021 shares of the company's stock, valued at $5,590,451.50. This represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $18.45, for a total value of $5,535,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,221,776 shares in the company, valued at $336,191,767.20. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 884,862 shares of company stock worth $17,484,482 over the last three months. 12.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on MP Materials from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Canaccord Genuity Group upped their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Finally, BMO Capital Markets raised their target price on shares of MP Materials from $19.50 to $22.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.45.

MP Materials Stock Performance

MP traded up $0.52 on Thursday, reaching $24.08. The stock had a trading volume of 4,404,066 shares, compared to its average volume of 3,375,251. The business's 50-day moving average price is $19.66 and its two-hundred day moving average price is $17.10. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $24.80. The company has a market cap of $3.93 billion, a P/E ratio of -44.60 and a beta of 2.34.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.04). MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. The business had revenue of $62.93 million during the quarter, compared to analyst estimates of $45.30 million. During the same period in the previous year, the company posted $0.02 EPS. Sell-side analysts forecast that MP Materials Corp. will post -0.54 earnings per share for the current year.

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.