Empowered Funds LLC Buys New Shares in MP Materials Corp. (NYSE:MP)

Empowered Funds LLC bought a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,594 shares of the company's stock, valued at approximately $228,000.

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

MP Materials Trading Down 2.9 %

Shares of MP Materials stock traded down $0.71 during mid-day trading on Tuesday, hitting $23.57. The stock had a trading volume of 3,073,264 shares, compared to its average volume of 3,305,799. The firm has a market cap of $3.85 billion, a P/E ratio of -39.94 and a beta of 2.34. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average of $20.67 and a two-hundred day moving average of $18.22. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $26.00.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $60.99 million during the quarter, compared to analysts' expectations of $50.71 million. Sell-side analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the transaction, the chief financial officer now owns 260,021 shares of the company's stock, valued at $5,590,451.50. This trade represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction dated 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 sale, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at approximately $375,590,254.76. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 655,890 shares of company stock valued at $14,878,628. 12.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MP has been the topic of several research reports. BMO Capital Markets raised their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a "market perform" rating in a research note on Monday, January 27th. Canaccord Genuity Group raised their target price 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.45.

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.