MP Materials Corp. (NYSE:MP) Shares Sold by AlphaQuest LLC

AlphaQuest LLC cut its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 91.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,772 shares of the company's stock after selling 39,172 shares during the period. AlphaQuest LLC's holdings in MP Materials were worth $59,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Haven Private LLC acquired a new position in shares of MP Materials in the 4th quarter valued at $194,000. Raymond James Financial Inc. acquired a new position in MP Materials in the fourth quarter valued at about $6,284,000. Proficio Capital Partners LLC purchased a new position in MP Materials during the fourth quarter worth about $399,000. M&T Bank Corp increased its position in shares of MP Materials by 32.9% during the fourth quarter. M&T Bank Corp now owns 61,955 shares of the company's stock valued at $966,000 after acquiring an additional 15,348 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of MP Materials by 3.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company's stock valued at $37,945,000 after acquiring an additional 73,297 shares during the period. Hedge funds and other institutional investors own 52.55% of the company's stock.

Insider Buying and Selling at MP Materials

In other news, CFO Ryan Corbett sold 15,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the transaction, the chief financial officer now owns 214,812 shares in the company, valued at approximately $5,799,924. This represents a 6.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value 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 approximately $386,661,441.66. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,112,316 shares of company stock valued at $28,665,974. Insiders own 12.60% of the company's stock.

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MP Materials Stock Up 2.6 %

MP traded up $0.67 on Monday, hitting $26.57. 2,630,336 shares of the company were exchanged, compared to its average volume of 3,100,833. The firm has a 50-day moving average price of $23.36 and a two-hundred day moving average price of $19.78. 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 twelve month low of $10.02 and a twelve month high of $27.29. The company has a market cap of $4.34 billion, a price-to-earnings ratio of -45.03 and a beta of 2.32.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). The company had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. On average, equities analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on MP. Canaccord Genuity Group lifted their target price 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. DA Davidson boosted their price objective on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. Finally, BMO Capital Markets raised their target price on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $23.61.

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.