Sicart Associates LLC Sells 14,049 Shares of MP Materials Corp. (NYSE:MP)

Sicart Associates LLC reduced its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 370,730 shares of the company's stock after selling 14,049 shares during the period. MP Materials accounts for about 2.1% of Sicart Associates LLC's portfolio, making the stock its 22nd largest holding. Sicart Associates LLC owned about 0.23% of MP Materials worth $5,783,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MP. GAMMA Investing LLC lifted its stake in MP Materials by 136.0% in the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company's stock valued at $39,000 after acquiring an additional 1,285 shares during the last quarter. Signaturefd LLC lifted its holdings in MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company's stock valued at $65,000 after purchasing an additional 3,262 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in MP Materials during the second quarter worth $72,000. KBC Group NV increased its holdings in shares of MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company's stock valued at $84,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of MP Materials in the second quarter valued at about $100,000. 52.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MP. DA Davidson increased their price target on shares of MP Materials from $20.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. BMO Capital Markets lifted their price target on MP Materials from $16.00 to $18.50 and gave the stock a "market perform" rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on MP Materials from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, October 21st. Robert W. Baird lifted their target price on MP Materials from $20.00 to $25.00 and gave the stock an "outperform" rating in a report on Friday, September 27th. Finally, Morgan Stanley upped their price target on shares of MP Materials from $13.50 to $16.00 and gave the company an "equal weight" rating in a research note on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.10.

MP Materials Price Performance

MP traded down $0.21 on Friday, hitting $20.96. 1,975,219 shares of the stock were exchanged, compared to its average volume of 3,375,974. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of -38.81 and a beta of 2.31. 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 12 month low of $10.02 and a 12 month high of $24.01. The business has a 50-day moving average of $18.93 and a two-hundred day moving average of $16.33.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 35,000 shares of the business's stock in a transaction on Friday, November 29th. The stock was 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 owns 260,021 shares of the company's stock, valued at approximately $5,590,451.50. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 300,000 shares of the firm'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 completion of the sale, the chief executive officer now directly owns 18,221,776 shares in the company, valued at $336,191,767.20. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 884,862 shares of company stock valued at $17,484,482. Company 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.