Bank of New York Mellon Corp Cuts Position in MP Materials Corp. (NYSE:MP)

Bank of New York Mellon Corp lowered its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,631,691 shares of the company's stock after selling 163,567 shares during the quarter. Bank of New York Mellon Corp owned 1.00% of MP Materials worth $25,454,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MP. Segall Bryant & Hamill LLC raised its position in MP Materials by 32.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company's stock valued at $21,988,000 after purchasing an additional 306,933 shares during the period. Principal Financial Group Inc. raised its holdings in shares of MP Materials by 48.7% in the 4th quarter. Principal Financial Group Inc. now owns 899,698 shares of the company's stock valued at $14,035,000 after buying an additional 294,806 shares during the period. Public Sector Pension Investment Board acquired a new position in MP Materials during the 3rd quarter worth about $4,584,000. Y Intercept Hong Kong Ltd purchased a new position in MP Materials during the 3rd quarter valued at about $2,300,000. Finally, Private Advisor Group LLC grew its position in MP Materials by 76.5% in the 4th quarter. Private Advisor Group LLC now owns 248,591 shares of the company's stock valued at $3,878,000 after acquiring an additional 107,738 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company's stock.

Insider Activity

In related news, CEO James H. Litinsky sold 386,223 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the sale, the chief executive officer now owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.60% of the company's stock.

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MP Materials Stock Performance

NYSE MP traded up $0.04 on Thursday, hitting $24.38. 1,508,517 shares of the company's stock were exchanged, compared to its average volume of 3,129,433. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The firm's 50-day moving average price is $22.37 and its two-hundred day moving average price is $19.08. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -41.32 and a beta of 2.32. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $26.00.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share 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, research analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of MP Materials from $19.50 to $22.00 and gave the company a "market perform" rating in a report on Monday, January 27th. 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. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.45.

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.