Mirova Lowers Stake in MP Materials Corp. (NYSE:MP)

Mirova trimmed its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,897 shares of the company's stock after selling 10,687 shares during the period. Mirova's holdings in MP Materials were worth $1,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of MP Materials during the fourth quarter worth approximately $6,284,000. HITE Hedge Asset Management LLC acquired a new stake in shares of MP Materials during the fourth quarter worth $6,019,000. Marshall Wace LLP bought a new position in MP Materials during the fourth quarter worth about $5,330,000. Principal Financial Group Inc. raised its stake in MP Materials by 48.7% in the 4th quarter. Principal Financial Group Inc. now owns 899,698 shares of the company's stock worth $14,035,000 after purchasing an additional 294,806 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in MP Materials in the 4th quarter valued at about $4,550,000. 52.55% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Ryan Corbett sold 15,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the sale, the chief financial officer now owns 214,812 shares of the company's stock, valued at $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,330,015 shares of company stock worth $34,559,781. Insiders own 12.60% of the company's stock.

MP Materials Price Performance

NYSE:MP traded down $1.15 during trading hours on Friday, hitting $24.86. The company's stock had a trading volume of 2,741,029 shares, compared to its average volume of 3,556,917. 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 company has a market capitalization of $4.06 billion, a P/E ratio of -42.36 and a beta of 2.24. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $29.72. The stock has a fifty day simple moving average of $24.65 and a 200-day simple moving average of $21.37.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share (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 company had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. On average, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. DA Davidson raised their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. BMO Capital Markets boosted their price target 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 issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.61.

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.