Blair William & Co. IL Sells 16,050 Shares of MP Materials Corp. (NYSE:MP)

Blair William & Co. IL cut its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 54.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,632 shares of the company's stock after selling 16,050 shares during the period. Blair William & Co. IL's holdings in MP Materials were worth $213,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of MP Materials in the 4th quarter worth approximately $6,284,000. Proficio Capital Partners LLC acquired a new position in shares of MP Materials in the 4th quarter worth approximately $399,000. Oak Family Advisors LLC acquired a new position in shares of MP Materials in the 4th quarter worth approximately $530,000. KLP Kapitalforvaltning AS acquired a new position in shares of MP Materials in the 4th quarter worth approximately $388,000. Finally, 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 purchasing an additional 22,473 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MP has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research report on Thursday, March 20th. DA Davidson boosted their target price on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.61.

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the transaction, the chief financial officer now directly owns 230,100 shares in the company, valued at $5,869,851. This trade represents a 20.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James H. Litinsky sold 18,519 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $27.00, for a total transaction of $500,013.00. Following the completion of the transaction, the chief executive officer now owns 13,842,256 shares in the company, valued at $373,740,912. This represents a 0.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,130,835 shares of company stock worth $29,165,987. Insiders own 12.60% of the company's stock.

MP Materials Price Performance

Shares of MP Materials stock traded down $0.34 on Thursday, reaching $23.47. The stock had a trading volume of 553,058 shares, compared to its average volume of 3,422,055. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $27.29. The company has a market cap of $3.84 billion, a P/E ratio of -39.78 and a beta of 2.24. 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 business's 50 day moving average is $24.47 and its two-hundred day moving average is $20.81.

MP Materials (NYSE:MP - Get Free Report) last posted 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 the consensus estimate 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, research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

About MP Materials

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.