Oakworth Capital Inc. Sells 11,010 Shares of MP Materials Corp. (NYSE:MP)

Oakworth Capital Inc. reduced its stake in MP Materials Corp. (NYSE:MP - Free Report) by 47.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,197 shares of the company's stock after selling 11,010 shares during the period. Oakworth Capital Inc.'s holdings in MP Materials were worth $190,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MP. Guidance Capital Inc. bought a new stake in MP Materials during the 4th quarter worth approximately $344,000. Oak Family Advisors LLC bought a new position in shares of MP Materials in the fourth quarter worth $530,000. DAVENPORT & Co LLC raised its position in shares of MP Materials by 20.6% in the fourth quarter. DAVENPORT & Co LLC now owns 34,925 shares of the company's stock worth $545,000 after buying an additional 5,973 shares in the last quarter. KBC Group NV boosted its stake in MP Materials by 33.0% during the fourth quarter. KBC Group NV now owns 6,297 shares of the company's stock valued at $98,000 after buying an additional 1,564 shares during the period. Finally, Archford Capital Strategies LLC grew its position in MP Materials by 29.8% during the fourth quarter. Archford Capital Strategies LLC now owns 21,118 shares of the company's stock worth $329,000 after buying an additional 4,852 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on MP Materials from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Canaccord Genuity Group boosted their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Finally, BMO Capital Markets raised their price objective on shares of MP Materials from $19.50 to $22.00 and gave the company a "market perform" rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.45.

Insider Activity

In other news, CFO Ryan Corbett sold 35,000 shares of the company's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the transaction, the chief financial officer now directly owns 260,021 shares of the company's stock, valued at approximately $5,590,451.50. This represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 386,223 shares of the business's stock in a transaction dated 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. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,271,085 shares of company stock valued at $26,757,696. 12.60% of the stock is currently owned by company insiders.

MP Materials Trading Down 0.9 %

NYSE:MP traded down $0.21 during trading hours on Friday, reaching $23.90. The company's stock had a trading volume of 3,881,800 shares, compared to its average volume of 2,852,481. The firm has a 50-day simple moving average of $19.72 and a 200-day simple moving average of $17.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $24.80. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -44.27 and a beta of 2.34.

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The company had revenue of $62.93 million for the quarter, compared to analysts' expectations of $45.30 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. During the same quarter in the prior year, the company earned $0.02 earnings per share. Research analysts expect that MP Materials Corp. will post -0.54 EPS 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.