M&T Bank Corp increased its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 32.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,955 shares of the company's stock after acquiring an additional 15,348 shares during the period. M&T Bank Corp's holdings in MP Materials were worth $966,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of MP Materials during the fourth quarter worth $40,000. Geneos Wealth Management Inc. grew its position in MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock valued at $43,000 after purchasing an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock valued at $51,000 after acquiring an additional 2,200 shares during the period. GAMMA Investing LLC grew its position in shares of MP Materials by 69.3% in the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company's stock valued at $59,000 after acquiring an additional 1,545 shares during the period. Finally, KBC Group NV grew its position in shares of MP Materials by 35.7% in the 3rd quarter. KBC Group NV now owns 4,733 shares of the company's stock valued at $84,000 after acquiring an additional 1,246 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently commented on MP shares. Canaccord Genuity Group lifted their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. BMO Capital Markets lifted their target price on shares of MP Materials from $19.50 to $22.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.45.
Read Our Latest Research Report on MP Materials
MP Materials Price Performance
Shares of MP Materials stock opened at $24.00 on Wednesday. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $26.00. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The company has a 50-day simple moving average of $22.20 and a two-hundred day simple moving average of $19.05. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -40.67 and a beta of 2.32.
MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. Analysts forecast that MP Materials Corp. will post -0.19 EPS for the current year.
Insider Activity
In other news, CEO James H. Litinsky sold 386,223 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.60% of the company's stock.
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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