MP Materials Corp. (NYSE:MP) Shares Sold by ARS Investment Partners LLC

ARS Investment Partners LLC lessened its position in MP Materials Corp. (NYSE:MP - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 961,373 shares of the company's stock after selling 247,188 shares during the quarter. MP Materials comprises 1.4% of ARS Investment Partners LLC's holdings, making the stock its 26th largest position. ARS Investment Partners LLC owned 0.59% of MP Materials worth $14,997,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MP. GAMMA Investing LLC raised its holdings in MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company's stock valued at $39,000 after acquiring an additional 1,285 shares during the last quarter. Signaturefd LLC increased its holdings in shares of MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company's stock valued at $65,000 after purchasing an additional 3,262 shares during the last quarter. KBC Group NV lifted its position in MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company's stock worth $84,000 after buying an additional 1,246 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in MP Materials during the second quarter worth $72,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in MP Materials in the 2nd quarter valued at $100,000. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Trading Down 0.3 %

MP Materials stock traded down $0.05 during midday trading on Tuesday, reaching $20.89. 2,994,467 shares of the stock traded hands, compared to its average volume of 3,344,378. The firm has a market cap of $3.41 billion, a PE ratio of -38.68 and a beta of 2.31. 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 50-day simple moving average of $18.97 and a two-hundred day simple moving average of $16.47. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $24.01.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $62.93 million during the quarter, compared to analyst estimates of $45.30 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. During the same quarter last year, the firm posted $0.02 EPS. Research analysts expect that MP Materials Corp. will post -0.54 earnings per share for the current fiscal year.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the transaction, the chief executive officer now owns 18,221,776 shares in the company, valued at $336,191,767.20. The trade was a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ryan Corbett sold 35,000 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the sale, the chief financial officer now owns 260,021 shares in the company, valued at $5,590,451.50. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 884,862 shares of company stock valued at $17,484,482. 12.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of 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 increased their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. BMO Capital Markets lifted their price target on shares of MP Materials from $16.00 to $18.50 and gave the company a "market perform" rating in a research report on Friday, October 25th. Robert W. Baird increased their price objective on MP Materials from $20.00 to $25.00 and gave the stock an "outperform" rating in a research report on Friday, September 27th. Finally, DA Davidson upped their price target on MP Materials from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, MP Materials has an average rating of "Moderate Buy" and a consensus price target of $22.10.

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.