Legal & General Group Plc Sells 31,470 Shares of MP Materials Corp. (NYSE:MP)

Legal & General Group Plc lowered its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 331,773 shares of the company's stock after selling 31,470 shares during the period. Legal & General Group Plc owned 0.20% of MP Materials worth $5,176,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in MP Materials by 3.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company's stock worth $37,945,000 after purchasing an additional 73,297 shares in the last quarter. Invesco Ltd. increased its holdings in shares of MP Materials by 0.4% in the fourth quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock worth $33,050,000 after purchasing an additional 7,453 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of MP Materials by 15.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company's stock worth $16,843,000 after buying an additional 144,661 shares in the last quarter. Principal Financial Group Inc. boosted its stake in MP Materials by 48.7% during the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company's stock valued at $14,035,000 after buying an additional 294,806 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in MP Materials during the fourth quarter worth about $6,284,000. 52.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted 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 lifted their target price on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $23.61.

MP Materials Trading Up 13.6 %

Shares of MP traded up $3.11 during trading hours on Thursday, hitting $26.00. The company had a trading volume of 9,277,002 shares, compared to its average volume of 3,550,919. The firm has a market cap of $4.25 billion, a P/E ratio of -44.17 and a beta of 2.24. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $29.72. The stock's 50 day moving average price is $24.61 and its 200 day moving average price is $21.32. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

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 for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The company had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. On average, research analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Activity at MP Materials

In related news, CFO Ryan Corbett sold 60,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the completion of the transaction, the chief financial officer now owns 230,100 shares in the company, valued at $5,869,851. This represents a 20.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction on Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the completion of the sale, the chief executive officer now owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,330,015 shares of company stock worth $34,559,781 in the last three months. 12.60% of the stock is owned by insiders.

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.