Bfsg LLC Sells 28,308 Shares of MP Materials Corp. (NYSE:MP)

Bfsg LLC cut its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 50.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,213 shares of the company's stock after selling 28,308 shares during the period. Bfsg LLC's holdings in MP Materials were worth $498,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MP. Vanguard Group Inc. lifted its position in MP Materials by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 13,635,712 shares of the company's stock worth $270,669,000 after acquiring an additional 254,881 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of MP Materials by 25.3% during the first quarter. 180 Wealth Advisors LLC now owns 56,790 shares of the company's stock worth $812,000 after purchasing an additional 11,476 shares during the period. Mirador Capital Partners LP increased its holdings in shares of MP Materials by 12.9% during the first quarter. Mirador Capital Partners LP now owns 19,354 shares of the company's stock worth $277,000 after purchasing an additional 2,212 shares during the period. State of Michigan Retirement System increased its holdings in shares of MP Materials by 2.3% during the first quarter. State of Michigan Retirement System now owns 35,400 shares of the company's stock worth $506,000 after purchasing an additional 800 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of MP Materials by 25.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 27,567 shares of the company's stock worth $394,000 after purchasing an additional 5,580 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal bought 30,000 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $10.84 per share, with a total value of $325,200.00. Following the completion of the transaction, the chief operating officer now directly owns 1,402,975 shares in the company, valued at approximately $15,208,249. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 12.60% of the stock is currently owned by insiders.

MP Materials Trading Up 1.7 %

MP stock traded up $0.30 during midday trading on Friday, hitting $18.60. The stock had a trading volume of 2,167,783 shares, compared to its average volume of 3,338,146. The firm has a market cap of $3.07 billion, a P/E ratio of -123.97 and a beta of 2.23. The company has a current ratio of 6.90, a quick ratio of 6.17 and a debt-to-equity ratio of 0.84. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $20.85. The business has a fifty day moving average price of $14.79 and a two-hundred day moving average price of $14.92.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.08). The firm had revenue of $31.26 million during the quarter, compared to analyst estimates of $40.03 million. MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. MP Materials's quarterly revenue was down 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 EPS. On average, sell-side analysts predict that MP Materials Corp. will post -0.48 earnings per share for the current fiscal year.

MP Materials announced that its Board of Directors has approved a share buyback plan on Tuesday, September 3rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 13.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently commented on MP shares. JPMorgan Chase & Co. lowered their target price on shares of MP Materials from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Tuesday, July 23rd. Morgan Stanley lifted their price objective 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. Benchmark reissued a "buy" rating and issued a $30.00 price objective on shares of MP Materials in a research note on Friday, August 2nd. BMO Capital Markets lifted their price objective on shares of MP Materials from $15.50 to $16.00 and gave the company a "market perform" rating in a research note on Monday, September 30th. Finally, Canaccord Genuity Group decreased their price objective on shares of MP Materials from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, MP Materials presently has a consensus rating of "Moderate Buy" and an average price target of $20.85.

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.