MP Materials Corp. (NYSE:MP) Stock Holdings Lessened by Amundi

Amundi lessened its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 83.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,200 shares of the company's stock after selling 62,800 shares during the period. Amundi's holdings in MP Materials were worth $190,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MP. Oak Family Advisors LLC bought a new position in MP Materials during the fourth quarter worth $530,000. Quest Partners LLC raised its holdings in shares of MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company's stock worth $758,000 after purchasing an additional 38,204 shares during the period. SG Americas Securities LLC lifted its position in shares of MP Materials by 167.3% in the 4th quarter. SG Americas Securities LLC now owns 35,902 shares of the company's stock worth $560,000 after buying an additional 22,473 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of MP Materials in the 3rd quarter valued at about $2,300,000. Finally, Principal Financial Group Inc. grew its position in shares of MP Materials by 35.7% during the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company's stock valued at $10,676,000 after buying an additional 159,200 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company's stock.

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 161,175 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 14,352,689 shares of the company's stock, valued at $386,661,441.66. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction dated Friday, March 14th. The stock was 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 directly owns 230,100 shares in the company, valued at approximately $5,869,851. The trade was a 20.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,112,316 shares of company stock worth $28,665,974. 12.60% of the stock is owned by corporate insiders.

Remove Ads

MP Materials Stock Performance

MP traded up $0.49 during trading hours on Tuesday, hitting $26.95. The company's stock had a trading volume of 2,914,406 shares, compared to its average volume of 3,100,740. 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 fifty-two week low of $10.02 and a fifty-two week high of $27.29. The company has a 50-day simple moving average of $23.50 and a 200 day simple moving average of $19.87. The firm has a market capitalization of $4.40 billion, a PE ratio of -45.68 and a beta of 2.32.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million for the quarter, compared to analyst estimates 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, sell-side analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. DA Davidson raised their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Canaccord Genuity Group raised their price target on MP Materials from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Finally, BMO Capital Markets upped their price objective 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. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.61.

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.