Monaco Asset Management SAM Buys New Shares in MP Materials Corp. (NYSE:MP)

Monaco Asset Management SAM acquired a new position in MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 150,000 shares of the company's stock, valued at approximately $2,340,000. MP Materials makes up approximately 0.3% of Monaco Asset Management SAM's investment portfolio, making the stock its 27th biggest position. Monaco Asset Management SAM owned 0.09% of MP Materials at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MP. Raymond James Financial Inc. bought a new position in MP Materials in the 4th quarter valued at about $6,284,000. Segall Bryant & Hamill LLC increased its holdings in MP Materials by 32.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company's stock valued at $21,988,000 after buying an additional 306,933 shares during the period. Principal Financial Group Inc. increased its holdings in MP Materials by 48.7% in the 4th 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. Connor Clark & Lunn Investment Management Ltd. bought a new position in MP Materials in the 4th quarter valued at about $4,550,000. Finally, Wealthfront Advisers LLC bought a new position in MP Materials in the 4th quarter valued at about $4,484,000. Institutional investors and hedge funds own 52.55% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a "market perform" rating in a report on Monday, January 27th. Canaccord Genuity Group lifted their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.45.

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Insider Transactions at MP Materials

In other news, CEO James H. Litinsky sold 386,223 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 approximately $375,590,254.76. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.60% of the company's stock.

MP Materials Trading Up 10.5 %

MP traded up $2.55 during trading on Friday, reaching $26.93. 4,816,459 shares of the company's stock were exchanged, compared to its average volume of 3,102,185. MP Materials Corp. has a one year low of $10.02 and a one year high of $26.95. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $4.40 billion, a PE ratio of -45.65 and a beta of 2.32. The firm has a fifty day moving average price of $22.71 and a two-hundred day moving average price of $19.26.

MP Materials (NYSE:MP - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. As a group, equities research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

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.