Bfsg LLC Decreases Position in MP Materials Corp. (NYSE:MP)

Bfsg LLC lowered its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 80.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,451 shares of the company's stock after selling 22,762 shares during the period. Bfsg LLC's holdings in MP Materials were worth $85,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MP. Creative Planning lifted its holdings in shares of MP Materials by 219.0% during the 3rd quarter. Creative Planning now owns 46,871 shares of the company's stock valued at $827,000 after purchasing an additional 32,176 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of MP Materials by 817.5% during the 3rd 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. Louisiana State Employees Retirement System lifted its holdings in shares of MP Materials by 56.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 59,200 shares of the company's stock valued at $1,045,000 after purchasing an additional 21,300 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of MP Materials during the 3rd quarter valued at $188,000. Finally, Pullen Investment Management LLC lifted its holdings in shares of MP Materials by 10.5% during the 3rd quarter. Pullen Investment Management LLC now owns 23,436 shares of the company's stock valued at $414,000 after purchasing an additional 2,223 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

MP Materials Stock Performance

MP traded up $1.07 during midday trading on Friday, hitting $24.25. 4,659,307 shares of the company were exchanged, compared to its average volume of 3,210,869. The company's 50 day simple moving average is $20.45 and its 200 day simple moving average is $17.98. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of -41.09 and a beta of 2.34. 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 1-year low of $10.02 and a 1-year high of $26.00.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results 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 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%. As a group, sell-side analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO James H. Litinsky sold 300,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the sale, the chief executive officer now directly owns 18,043,076 shares of the company's stock, valued at $364,830,996.72. This represents a 1.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ryan Corbett sold 35,000 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.50, for a total transaction of $752,500.00. Following the sale, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $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. In the last three months, insiders have sold 955,890 shares of company stock valued at $20,944,628. Company insiders own 12.60% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on MP shares. BMO Capital Markets increased their price objective on 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 upped their target price on MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, MP Materials has a consensus rating of "Moderate Buy" and an average target price of $22.45.

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.