Krane Funds Advisors LLC lessened its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 16.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,096 shares of the company's stock after selling 11,363 shares during the quarter. Krane Funds Advisors LLC's holdings in MP Materials were worth $922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of MP Materials during the 4th quarter valued at approximately $6,284,000. Principal Financial Group Inc. boosted its holdings in shares of MP Materials by 48.7% in the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company's stock worth $14,035,000 after acquiring an additional 294,806 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of MP Materials in the fourth quarter valued at $4,550,000. Wealthfront Advisers LLC purchased a new position in shares of MP Materials in the fourth quarter valued at $4,484,000. Finally, Monaco Asset Management SAM purchased a new stake in MP Materials during the 4th quarter worth about $2,340,000. 52.55% of the stock is owned by hedge funds and other institutional investors.
MP Materials Price Performance
NYSE:MP traded down $0.89 during mid-day trading on Friday, reaching $22.65. The stock had a trading volume of 9,023,379 shares, compared to its average volume of 3,173,657. The stock has a market capitalization of $3.70 billion, a P/E ratio of -38.38 and a beta of 2.24. The firm has a 50 day moving average price of $24.45 and a two-hundred day moving average price of $20.91. 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 Corp. has a one year low of $10.02 and a one 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 analysts' consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million during the quarter, compared to analysts' expectations of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. As a group, analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on MP shares. BMO Capital Markets upped their price target on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research report on Thursday, March 20th. DA Davidson upped their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $23.61.
Read Our Latest Stock Analysis on MP Materials
Insider Activity
In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the transaction, the chief financial officer now directly owns 230,100 shares of the company's stock, valued at approximately $5,869,851. The trade was a 20.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James H. Litinsky sold 18,519 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $27.00, for a total transaction of $500,013.00. Following the completion of the sale, the chief executive officer now directly owns 13,842,256 shares of the company's stock, valued at approximately $373,740,912. This represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,130,835 shares of company stock valued at $29,165,987. Insiders own 12.60% of the company's stock.
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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