LPL Financial LLC Acquires 12,782 Shares of MP Materials Corp. (NYSE:MP)

LPL Financial LLC boosted its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,435 shares of the company's stock after acquiring an additional 12,782 shares during the quarter. LPL Financial LLC owned 0.08% of MP Materials worth $1,972,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in MP Materials in the 4th quarter valued at about $6,284,000. Proficio Capital Partners LLC purchased a new position in MP Materials in the fourth quarter worth $399,000. Oak Family Advisors LLC bought a new position in MP Materials in the 4th quarter valued at $530,000. KLP Kapitalforvaltning AS purchased a new position in shares of MP Materials in the 4th quarter worth about $388,000. Finally, SG Americas Securities LLC grew its position in MP Materials by 167.3% during the fourth quarter. SG Americas Securities LLC now owns 35,902 shares of the company's stock valued at $560,000 after buying an additional 22,473 shares during the period. Institutional investors and hedge funds own 52.55% of the company's stock.

Insiders Place Their Bets

In related news, CFO Ryan Corbett sold 60,000 shares of the company'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 completion of the sale, the chief financial officer now directly owns 230,100 shares in the company, valued at $5,869,851. This represents a 20.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James H. Litinsky sold 386,223 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the sale, the chief executive officer now directly owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,330,015 shares of company stock valued at $34,559,781 over the last 90 days. Insiders own 12.60% of the company's stock.

Wall Street Analysts Forecast Growth

MP has been the topic of a number of research analyst reports. DA Davidson boosted their target price on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, March 19th. BMO Capital Markets upped their price objective on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $23.61.

MP Materials Price Performance

NYSE MP traded down $1.34 on Friday, hitting $26.24. The stock had a trading volume of 20,271,554 shares, compared to its average volume of 3,435,841. The firm has a 50-day moving average of $24.64 and a 200-day moving average of $21.13. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of -44.47 and a beta of 2.24. 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 52-week low of $10.02 and a 52-week high of $29.72.

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 business had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. Equities 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.