FIL Ltd Sells 18,085 Shares of MP Materials Corp. (NYSE:MP)

FIL Ltd reduced its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 43.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,105 shares of the company's stock after selling 18,085 shares during the period. FIL Ltd's holdings in MP Materials were worth $360,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of MP Materials in the fourth quarter worth about $6,284,000. Proficio Capital Partners LLC acquired a new stake in MP Materials in the 4th quarter worth approximately $399,000. Oak Family Advisors LLC acquired a new stake in MP Materials in the 4th quarter worth approximately $530,000. KLP Kapitalforvaltning AS acquired a new position in MP Materials during the fourth quarter valued at approximately $388,000. Finally, SG Americas Securities LLC raised its position in shares of MP Materials by 167.3% in the fourth quarter. SG Americas Securities LLC now owns 35,902 shares of the company's stock valued at $560,000 after purchasing an additional 22,473 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research report on Thursday, March 20th. DA Davidson increased their target price on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, MP Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.61.

MP Materials Stock Performance

Shares of NYSE:MP traded down $1.34 during trading on Friday, hitting $26.24. 20,271,554 shares of the stock were exchanged, compared to its average volume of 3,437,284. The company's fifty day simple moving average is $24.67 and its 200-day simple moving average is $21.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of -44.47 and a beta of 2.24. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $29.72.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The business had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. Sell-side analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction on Friday, March 14th. The stock was sold at an average price of $25.51, for a total value of $1,530,600.00. Following the completion of the transaction, the chief financial officer now owns 230,100 shares in the company, valued at approximately $5,869,851. The trade was a 20.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James H. Litinsky sold 199,180 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $27.08, for a total value of $5,393,794.40. Following the sale, the chief executive officer now owns 13,643,076 shares in the company, valued at $369,454,498.08. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,330,015 shares of company stock valued at $34,559,781 over the last quarter. Corporate insiders own 12.60% of the company's stock.

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.