Charles Schwab Investment Management Inc. Acquires 144,661 Shares of MP Materials Corp. (NYSE:MP)

Charles Schwab Investment Management Inc. boosted its position in MP Materials Corp. (NYSE:MP - Free Report) by 15.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,079,668 shares of the company's stock after acquiring an additional 144,661 shares during the period. Charles Schwab Investment Management Inc. owned 0.66% of MP Materials worth $16,843,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MP. KBC Group NV lifted its position in shares of 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 acquiring an additional 1,246 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of MP Materials by 197.0% during the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company's stock valued at $1,696,000 after buying an additional 63,751 shares during the period. Quest Partners LLC lifted its holdings in shares of MP Materials by 806.0% in the third quarter. Quest Partners LLC now owns 42,944 shares of the company's stock worth $758,000 after buying an additional 38,204 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of MP Materials by 13.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 505,532 shares of the company's stock valued at $8,923,000 after acquiring an additional 59,469 shares during the period. Finally, Great Valley Advisor Group Inc. increased its holdings in MP Materials by 26.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 103,155 shares of the company's stock worth $1,821,000 after acquiring an additional 21,858 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research analysts have commented on MP shares. BMO Capital Markets raised their price target on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a report on Thursday. DA Davidson boosted their target price on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Finally, Canaccord Genuity Group raised their price target on MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $23.61.

Insider Activity

In other news, CEO James H. Litinsky sold 489,918 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $26.77, for a total transaction of $13,115,104.86. Following the completion of the sale, the chief executive officer now owns 15,153,158 shares of the company's stock, valued at approximately $405,650,039.66. This represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the transaction, the chief financial officer now owns 214,812 shares in the company, valued at $5,799,924. This represents a 6.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,112,316 shares of company stock valued at $28,665,974. Corporate insiders own 12.60% of the company's stock.

MP Materials Price Performance

MP stock traded up $0.67 during mid-day trading on Monday, hitting $26.57. 2,630,260 shares of the stock were exchanged, compared to its average volume of 3,100,833. 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 stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of -45.03 and a beta of 2.32. The business has a fifty day moving average price of $23.36 and a 200 day moving average price of $19.78. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $27.29.

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The firm had revenue of $60.99 million during the quarter, compared to analysts' expectations 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, sell-side analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

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.