59,132 Shares in MP Materials Corp. (NYSE:MP) Purchased by New Century Financial Group LLC

New Century Financial Group LLC purchased a new position in MP Materials Corp. (NYSE:MP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 59,132 shares of the company's stock, valued at approximately $922,000.

Several other large investors also recently modified their holdings of MP. Captrust Financial Advisors raised its position in shares of MP Materials by 5.0% during the 3rd quarter. Captrust Financial Advisors now owns 11,734 shares of the company's stock valued at $207,000 after purchasing an additional 557 shares during the period. Cutter & CO Brokerage Inc. raised its holdings in MP Materials by 0.5% during the third quarter. Cutter & CO Brokerage Inc. now owns 190,098 shares of the company's stock valued at $3,355,000 after acquiring an additional 910 shares during the period. Aurora Investment Counsel lifted its position in shares of MP Materials by 1.7% in the second quarter. Aurora Investment Counsel now owns 66,153 shares of the company's stock valued at $842,000 after acquiring an additional 1,122 shares in the last quarter. Pekin Hardy Strauss Inc. boosted its stake in shares of MP Materials by 0.4% in the third quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company's stock worth $4,509,000 after acquiring an additional 1,135 shares during the period. Finally, Evergreen Capital Management LLC grew its position in shares of MP Materials by 8.2% during the second quarter. Evergreen Capital Management LLC now owns 16,207 shares of the company's stock worth $206,000 after purchasing an additional 1,228 shares in the last quarter. Institutional investors own 52.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MP shares. DA Davidson boosted their target price on shares of MP Materials from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. 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 report on Wednesday, November 27th. 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. JPMorgan Chase & Co. increased their price target on MP Materials from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, October 21st. Finally, BMO Capital Markets lifted their price objective on MP Materials from $16.00 to $18.50 and gave the stock a "market perform" rating in a research note on Friday, October 25th. Four 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 an average rating of "Moderate Buy" and an average price target of $22.10.

Insider Buying and Selling

In other news, CEO James H. Litinsky sold 300,000 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total value of $6,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,043,076 shares in the company, valued at $364,830,996.72. This trade represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ryan Corbett sold 15,195 shares of MP Materials stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.30, for a total transaction of $278,068.50. Following the sale, the chief financial officer now owns 295,021 shares of the company's stock, valued at approximately $5,398,884.30. The trade was a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 884,862 shares of company stock worth $17,484,482 in the last ninety days. 12.60% of the stock is owned by insiders.

MP Materials Stock Up 0.9 %

Shares of MP stock traded up $0.19 during mid-day trading on Friday, hitting $21.60. 3,701,841 shares of the stock traded hands, compared to its average volume of 3,176,898. The stock's fifty day moving average is $19.09 and its two-hundred day moving average is $16.58. 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 52-week low of $10.02 and a 52-week high of $24.01. The stock has a market cap of $3.53 billion, a P/E ratio of -40.00 and a beta of 2.31.

MP Materials (NYSE:MP - Get Free Report) last announced 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 firm had revenue of $62.93 million during the quarter, compared to analyst estimates 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 last year, the business earned $0.02 earnings per share. Equities analysts predict that MP Materials Corp. will post -0.54 EPS for the current 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.