Monaco Asset Management SAM bought a new stake in MP Materials Corp. (NYSE:MP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 150,000 shares of the company's stock, valued at approximately $2,340,000. MP Materials makes up 0.3% of Monaco Asset Management SAM's portfolio, making the stock its 27th biggest holding. Monaco Asset Management SAM owned about 0.09% of MP Materials as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in MP. Janney Montgomery Scott LLC increased its holdings in shares of MP Materials by 6.5% in the third quarter. Janney Montgomery Scott LLC now owns 51,601 shares of the company's stock valued at $911,000 after purchasing an additional 3,149 shares during the last quarter. Principal Financial Group Inc. increased its stake in MP Materials by 35.7% during the third quarter. Principal Financial Group Inc. now owns 604,892 shares of the company's stock worth $10,676,000 after acquiring an additional 159,200 shares during the last quarter. Victory Capital Management Inc. increased its stake in MP Materials by 1.2% during the third quarter. Victory Capital Management Inc. now owns 2,359,092 shares of the company's stock worth $41,638,000 after acquiring an additional 28,697 shares during the last quarter. KBC Group NV increased its stake in MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company's stock worth $84,000 after acquiring an additional 1,246 shares during the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in MP Materials by 7.9% during the third quarter. OneDigital Investment Advisors LLC now owns 70,167 shares of the company's stock worth $1,238,000 after acquiring an additional 5,123 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.
MP Materials Trading Up 10.5 %
Shares of MP stock traded up $2.55 on Friday, reaching $26.93. 4,816,459 shares of the stock were exchanged, compared to its average volume of 3,102,185. The stock has a market cap of $4.40 billion, a P/E ratio of -45.65 and a beta of 2.32. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $22.71 and a two-hundred day moving average of $19.26. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $26.95.
MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) EPS 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 firm had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. On average, research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.
Insider Buying and Selling at MP Materials
In other news, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the transaction, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.60% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of research firms recently issued reports on MP. BMO Capital Markets lifted their target price on 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 boosted their price target on MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.45.
Read Our Latest Report on MP
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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