Connor Clark & Lunn Investment Management Ltd. Makes New Investment in MP Materials Corp. (NYSE:MP)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 291,655 shares of the company's stock, valued at approximately $4,550,000. Connor Clark & Lunn Investment Management Ltd. owned 0.18% of MP Materials as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MP. Janney Montgomery Scott LLC lifted its holdings in shares of MP Materials by 6.5% during the third quarter. Janney Montgomery Scott LLC now owns 51,601 shares of the company's stock valued at $911,000 after purchasing an additional 3,149 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of MP Materials by 35.7% in the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company's stock valued at $10,676,000 after acquiring an additional 159,200 shares in the last quarter. KBC Group NV grew its position in MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company's stock worth $84,000 after purchasing an additional 1,246 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of MP Materials by 7.9% in the third quarter. OneDigital Investment Advisors LLC now owns 70,167 shares of the company's stock worth $1,238,000 after buying an additional 5,123 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in MP Materials by 197.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company's stock worth $1,696,000 after acquiring an additional 63,751 shares in the last quarter. Institutional investors own 52.55% of the company's stock.

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MP Materials Stock Performance

Shares of NYSE MP traded down $0.59 during trading hours on Thursday, hitting $26.22. 4,133,617 shares of the company's stock were exchanged, compared to its average volume of 3,335,791. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -44.44 and a beta of 2.32. The company's 50-day moving average price is $23.11 and its 200-day moving average price is $19.56. 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 1-year low of $10.02 and a 1-year high of $27.29.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $60.99 million during 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%. On average, sell-side analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MP has been the topic of several research analyst reports. BMO Capital Markets boosted 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. Canaccord Genuity Group boosted their price target on MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Finally, DA Davidson raised their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $23.61.

Insider Activity

In other MP Materials news, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the sale, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 15,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the transaction, the chief financial officer now owns 214,812 shares of the company's stock, valued at $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,112,316 shares of company stock valued at $28,665,974. 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.