Baillie Gifford & Co. Sells 1,276,108 Shares of MP Materials Corp. (NYSE:MP)

Baillie Gifford & Co. reduced its stake in MP Materials Corp. (NYSE:MP - Free Report) by 46.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,482,473 shares of the company's stock after selling 1,276,108 shares during the period. Baillie Gifford & Co. owned 0.91% of MP Materials worth $23,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MP. Creative Planning lifted its stake in shares of MP Materials by 219.0% in the 3rd quarter. Creative Planning now owns 46,871 shares of the company's stock worth $827,000 after acquiring an additional 32,176 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of MP Materials by 2.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 62,964 shares of the company's stock worth $1,111,000 after purchasing an additional 1,436 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of MP Materials in the 3rd quarter worth approximately $313,000. Signaturefd LLC raised its holdings in shares of MP Materials by 817.5% in the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company's stock worth $65,000 after purchasing an additional 3,262 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of MP Materials by 56.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 59,200 shares of the company's stock worth $1,045,000 after purchasing an additional 21,300 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Trading Up 4.6 %

Shares of MP stock traded up $1.07 during trading hours on Friday, reaching $24.25. 4,659,307 shares of the stock traded hands, compared to its average volume of 3,318,429. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $26.00. The business has a fifty day moving average price of $20.45 and a 200 day moving average price of $17.93. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $3.96 billion, a PE ratio of -44.90 and a beta of 2.34.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The company had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. On average, equities research analysts forecast that MP Materials Corp. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on MP. BMO Capital Markets boosted 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. Canaccord Genuity Group boosted their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, MP Materials has an average rating of "Moderate Buy" and a consensus price target of $22.45.

Insider Buying and Selling at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the transaction, the chief financial officer now owns 260,021 shares in the company, valued at approximately $5,590,451.50. This represents a 11.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James H. Litinsky sold 234,667 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.68, for a total transaction of $4,852,913.56. Following the completion of the transaction, the chief executive officer now owns 17,608,409 shares in the company, valued at approximately $364,141,898.12. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 955,890 shares of company stock worth $20,944,628. 12.60% of the stock is currently owned by company insiders.

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.