Magnetar Financial LLC Has $414,000 Holdings in MP Materials Corp. (NYSE:MP)

Magnetar Financial LLC lowered its stake in MP Materials Corp. (NYSE:MP - Free Report) by 35.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,566 shares of the company's stock after selling 14,764 shares during the quarter. Magnetar Financial LLC's holdings in MP Materials were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of MP Materials in the fourth quarter worth about $40,000. Geneos Wealth Management Inc. boosted its stake in MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock worth $43,000 after purchasing an additional 1,849 shares during the period. Nisa Investment Advisors LLC grew its position in MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock worth $51,000 after purchasing an additional 2,200 shares in the last quarter. GAMMA Investing LLC raised its stake in MP Materials by 69.3% during 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 during the period. Finally, IMG Wealth Management Inc. purchased a new stake in shares of MP Materials in the fourth quarter valued at $66,000. Institutional investors and hedge funds own 52.55% of the company's stock.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 60,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the completion of the transaction, the chief financial officer now owns 230,100 shares of the company's stock, valued at $5,869,851. This represents a 20.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 161,175 shares of MP Materials stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $4,342,054.50. Following the sale, the chief executive officer now directly owns 14,352,689 shares in the company, valued at $386,661,441.66. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,112,316 shares of company stock valued at $28,665,974. Company insiders own 12.60% of the company's stock.

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MP Materials Stock Performance

Shares of NYSE MP traded up $0.15 during mid-day trading on Thursday, hitting $26.21. The company had a trading volume of 2,147,223 shares, compared to its average volume of 3,095,610. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $27.29. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The firm has a market cap of $4.28 billion, a P/E ratio of -44.42 and a beta of 2.32. The business's 50-day simple moving average is $23.76 and its 200-day simple moving average is $20.00.

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). The firm had revenue of $60.99 million during the quarter, compared to analyst estimates 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 predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MP has been the topic of several recent analyst reports. DA Davidson upped their price target on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. Canaccord Genuity Group raised their price target 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. Finally, BMO Capital Markets boosted their price objective on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $23.61.

About MP Materials

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.