abrdn plc trimmed its position in MP Materials Corp. (NYSE:MP - Free Report) by 25.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,953 shares of the company's stock after selling 44,028 shares during the quarter. abrdn plc owned 0.08% of MP Materials worth $2,029,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company's stock valued at $39,000 after purchasing an additional 1,285 shares in the last quarter. Creative Planning boosted its position in shares of MP Materials by 219.0% in the third quarter. Creative Planning now owns 46,871 shares of the company's stock worth $827,000 after buying an additional 32,176 shares during the period. Vontobel Holding Ltd. grew its stake in shares of MP Materials by 2.3% in the third quarter. Vontobel Holding Ltd. now owns 62,964 shares of the company's stock valued at $1,111,000 after buying an additional 1,436 shares in the last quarter. Secure Asset Management LLC grew its stake in shares of MP Materials by 8.5% in the third quarter. Secure Asset Management LLC now owns 101,125 shares of the company's stock valued at $1,785,000 after buying an additional 7,896 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in shares of MP Materials during the 3rd quarter valued at about $313,000. 52.55% of the stock is owned by institutional investors and hedge funds.
MP Materials Stock Down 3.3 %
Shares of MP traded down $0.85 during midday trading on Tuesday, hitting $24.67. The company had a trading volume of 3,214,488 shares, compared to its average volume of 3,508,699. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $26.00. The company's 50 day moving average price is $19.81 and its 200 day moving average price is $17.30. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -45.68 and a beta of 2.34.
Analyst Ratings Changes
MP has been the subject of several recent research reports. Canaccord Genuity Group increased their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. BMO Capital Markets raised 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of MP Materials from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, MP Materials has a consensus rating of "Moderate Buy" and a consensus price target of $22.45.
View Our Latest Research Report on MP
Insider Activity at MP Materials
In other news, CEO James H. Litinsky sold 300,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the sale, the chief executive officer now directly owns 18,043,076 shares in the company, valued at approximately $364,830,996.72. This represents a 1.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 15,195 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $18.30, for a total value of $278,068.50. Following the completion of the sale, the chief financial officer now directly owns 295,021 shares in the company, valued at approximately $5,398,884.30. This trade represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,271,085 shares of company stock valued at $26,757,696 over the last three months. 12.60% of the stock is owned by insiders.
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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