Clearbridge Investments LLC reduced its position in MP Materials Corp. (NYSE:MP - Free Report) by 13.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 729,863 shares of the company's stock after selling 111,929 shares during the period. Clearbridge Investments LLC owned 0.45% of MP Materials worth $11,386,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in MP Materials by 3.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company's stock valued at $37,945,000 after buying an additional 73,297 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of MP Materials by 15.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company's stock valued at $16,843,000 after purchasing an additional 144,661 shares during the period. Principal Financial Group Inc. boosted its position 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 worth $14,035,000 after purchasing an additional 294,806 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of MP Materials by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 462,391 shares of the company's stock worth $8,161,000 after purchasing an additional 19,077 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in MP Materials in the fourth quarter valued at about $6,284,000. Institutional investors own 52.55% of the company's stock.
MP Materials Stock Up 4.0 %
Shares of MP Materials stock traded up $0.91 on Monday, hitting $23.97. The company had a trading volume of 5,252,701 shares, compared to its average volume of 3,211,993. The stock has a 50-day moving average of $24.35 and a 200-day moving average of $20.66. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $27.29. The firm has a market capitalization of $3.92 billion, a P/E ratio of -40.63 and a beta of 2.24.
MP Materials (NYSE:MP - Get Free Report) last announced its 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). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The company had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. Research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.
Analyst Upgrades and Downgrades
MP has been the subject of several analyst reports. 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. BMO Capital Markets upped 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 note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, MP Materials currently has a consensus rating of "Moderate Buy" and an average price target of $23.61.
Get Our Latest Report on MP
Insider Buying and Selling
In other news, CEO James H. Litinsky sold 489,918 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $26.77, for a total transaction of $13,115,104.86. Following the completion of the transaction, the chief executive officer now directly owns 15,153,158 shares in the company, valued at $405,650,039.66. This represents a 3.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ryan Corbett sold 60,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the completion of the transaction, the chief financial officer now owns 230,100 shares of the company's stock, valued at $5,869,851. The trade was a 20.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,130,835 shares of company stock worth $29,165,987. 12.60% of the stock is owned by corporate insiders.
About MP Materials
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Free Report)
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.
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