BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in MP Materials Corp. (NYSE:MP - Free Report) by 13.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 505,532 shares of the company's stock after purchasing an additional 59,469 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.31% of MP Materials worth $8,923,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in MP Materials by 136.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company's stock worth $39,000 after acquiring an additional 1,285 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of MP Materials by 817.5% in the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company's stock valued at $65,000 after buying an additional 3,262 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of MP Materials by 3,803.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company's stock valued at $52,000 after buying an additional 3,956 shares in the last quarter. KBC Group NV boosted its holdings in shares of MP Materials by 35.7% in the 3rd quarter. KBC Group NV now owns 4,733 shares of the company's stock valued at $84,000 after buying an additional 1,246 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of MP Materials in the 2nd quarter valued at about $72,000. 52.55% of the stock is currently owned by institutional investors.
MP Materials Trading Up 6.2 %
Shares of MP traded up $1.21 during mid-day trading on Monday, reaching $20.86. The stock had a trading volume of 2,726,779 shares, compared to its average volume of 3,216,576. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $21.04. The business's fifty day moving average is $17.87 and its 200 day moving average is $15.41. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -38.62 and a beta of 2.23.
MP Materials announced that its board has authorized a share buyback program on Tuesday, September 3rd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 13.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.
Insider Buying and Selling at MP Materials
In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.45, for a total value of $5,535,000.00. Following the transaction, the chief executive officer now owns 18,221,776 shares of the company's stock, valued at $336,191,767.20. This represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ryan Corbett sold 15,195 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.30, for a total transaction of $278,068.50. Following the completion of the transaction, the chief financial officer now directly owns 295,021 shares in the company, valued at $5,398,884.30. The trade was a 4.90 % decrease in their position. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of MP Materials from $13.50 to $16.00 and gave the company an "equal weight" rating in a research report on Thursday, September 19th. DA Davidson increased their price objective on shares of MP Materials from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. Benchmark reaffirmed a "buy" rating and issued a $30.00 price objective on shares of MP Materials in a research report on Friday, August 2nd. BMO Capital Markets increased their price objective on shares of MP Materials from $16.00 to $18.50 and gave the company a "market perform" rating in a research report on Friday, October 25th. Finally, Robert W. Baird increased their price objective on shares of MP Materials from $20.00 to $25.00 and gave the company an "outperform" rating in a research report on Friday, September 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, MP Materials presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.40.
View Our Latest Stock Analysis 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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