Haven Private LLC purchased a new stake in MP Materials Corp. (NYSE:MP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,455 shares of the company's stock, valued at approximately $194,000.
Several other hedge funds have also recently bought and sold shares of the business. Captrust Financial Advisors grew its position in shares of MP Materials by 5.0% during the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company's stock worth $207,000 after buying an additional 557 shares in the last quarter. SWS Partners boosted its holdings in MP Materials by 0.4% in the fourth quarter. SWS Partners now owns 162,503 shares of the company's stock worth $2,535,000 after purchasing an additional 707 shares during the period. Pekin Hardy Strauss Inc. boosted its holdings in MP Materials by 0.4% in the third quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company's stock worth $4,509,000 after purchasing an additional 1,135 shares during the period. KBC Group NV boosted its holdings in MP Materials by 35.7% in the third 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. Finally, Handelsbanken Fonder AB boosted its holdings in MP Materials by 4.0% in the fourth quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company's stock worth $605,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 52.55% of the company's stock.
Insiders Place Their Bets
In other news, CEO James H. Litinsky sold 386,223 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total value of $9,273,214.23. Following the transaction, the chief executive officer now owns 15,643,076 shares in the company, valued at $375,590,254.76. This represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.60% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on MP. Canaccord Genuity Group lifted their price objective on shares of MP Materials from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. BMO Capital Markets raised their target price on MP Materials from $19.50 to $22.00 and gave the company a "market perform" rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.45.
View Our Latest Research Report on MP Materials
MP Materials Price Performance
MP Materials stock traded up $0.34 during midday trading on Wednesday, hitting $24.35. The company's stock had a trading volume of 2,584,255 shares, compared to its average volume of 3,139,287. 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 stock's 50-day moving average price is $22.20 and its 200-day moving average price is $19.05. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $26.00. The company has a market capitalization of $3.98 billion, a PE ratio of -41.26 and a beta of 2.32.
MP Materials (NYSE:MP - Get Free Report) last posted 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 for 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%. Analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.
About MP Materials
(
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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