D.A. Davidson & CO. Cuts Position in MP Materials Corp. (NYSE:MP)

D.A. Davidson & CO. cut its position in MP Materials Corp. (NYSE:MP - Free Report) by 26.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,577 shares of the company's stock after selling 15,402 shares during the quarter. D.A. Davidson & CO.'s holdings in MP Materials were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its position in MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock valued at $43,000 after buying an additional 1,849 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock valued at $51,000 after acquiring an additional 2,200 shares in the last quarter. Signaturefd LLC boosted its holdings in MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company's stock valued at $65,000 after purchasing an additional 3,262 shares during the period. GAMMA Investing LLC grew its stake in MP Materials by 69.3% during the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company's stock worth $59,000 after purchasing an additional 1,545 shares in the last quarter. Finally, KBC Group NV increased its holdings 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 during the period. Hedge funds and other institutional investors own 52.55% of the company's stock.

Insider Activity

In related news, CEO James H. Litinsky sold 234,667 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.68, for a total value of $4,852,913.56. Following the transaction, the chief executive officer now owns 17,608,409 shares in the company, valued at $364,141,898.12. The trade was a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 12.60% of the company's stock.

Analyst Upgrades and Downgrades

MP has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on MP Materials from $19.50 to $22.00 and gave the stock a "market perform" rating in a research report on Monday, January 27th. Canaccord Genuity Group lifted their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.45.

MP Materials Stock Performance

NYSE MP traded up $0.61 during trading hours on Friday, hitting $24.07. The company had a trading volume of 2,565,738 shares, compared to its average volume of 3,247,958. The business has a 50 day moving average of $20.95 and a 200-day moving average of $18.29. The company has a market cap of $3.93 billion, a PE ratio of -40.79 and a beta of 2.34. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $26.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) 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 firm had revenue of $60.99 million for the quarter, compared to analysts' expectations of $50.71 million. As a group, equities research analysts expect 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.