Chesapeake Capital Corp IL Purchases Shares of 17,120 MP Materials Corp. (NYSE:MP)

Chesapeake Capital Corp IL bought a new position in MP Materials Corp. (NYSE:MP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,120 shares of the company's stock, valued at approximately $267,000.

A number of other large investors have also made changes to their positions in MP. Raymond James Financial Inc. bought a new position in MP Materials in the 4th quarter worth $6,284,000. Segall Bryant & Hamill LLC increased 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 worth $21,988,000 after buying an additional 306,933 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of MP Materials by 48.7% in the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company's stock worth $14,035,000 after buying an additional 294,806 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of MP Materials in the fourth quarter worth about $4,550,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of MP Materials during the 4th quarter valued at about $4,484,000. 52.55% of the stock is currently owned by institutional investors.

MP Materials Trading Down 1.7 %

MP Materials stock traded down $0.44 during mid-day trading on Friday, hitting $25.81. The company's stock had a trading volume of 4,608,256 shares, compared to its average volume of 3,102,723. MP Materials Corp. has a one year low of $10.02 and a one year high of $27.29. The stock has a market cap of $4.22 billion, a PE ratio of -43.75 and a beta of 2.32. The company has a 50 day moving average of $23.36 and a 200-day moving average of $19.74. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MP shares. DA Davidson raised their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday. BMO Capital Markets upped their target price on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday. 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.61.

Insider Activity

In related news, CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $25.51, for a total value of $1,530,600.00. Following the completion of the sale, the chief financial officer now directly owns 230,100 shares in the company, valued at $5,869,851. The trade was a 20.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James H. Litinsky sold 161,175 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $26.94, for a total transaction of $4,342,054.50. Following the transaction, the chief executive officer now owns 14,352,689 shares in the company, valued at approximately $386,661,441.66. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, 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 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.