Pekin Hardy Strauss Inc. Sells 20,095 Shares of MP Materials Corp. (NYSE:MP)

Pekin Hardy Strauss Inc. trimmed its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,400 shares of the company's stock after selling 20,095 shares during the quarter. Pekin Hardy Strauss Inc. owned approximately 0.14% of MP Materials worth $3,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MP. Geneos Wealth Management Inc. lifted its holdings 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 buying an additional 1,849 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock valued at $51,000 after purchasing an additional 2,200 shares in the last quarter. GAMMA Investing LLC grew its stake in MP Materials by 69.3% during the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company's stock worth $59,000 after purchasing an additional 1,545 shares during the period. Signaturefd LLC increased its holdings in MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company's stock worth $65,000 after purchasing an additional 3,262 shares in the last quarter. Finally, KBC Group NV lifted its stake in 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 buying an additional 1,246 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Stock Up 1.0 %

MP traded up $0.25 during trading on Wednesday, hitting $23.81. 3,115,105 shares of the company's stock were exchanged, compared to its average volume of 3,300,711. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $26.00. The stock has a market cap of $3.89 billion, a P/E ratio of -40.35 and a beta of 2.34. The business's 50 day moving average is $20.67 and its two-hundred day moving average is $18.22. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

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

Wall Street Analysts Forecast Growth

MP has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of MP Materials from $19.50 to $22.00 and gave the stock a "market perform" rating in a research report on Monday, January 27th. Canaccord Genuity Group raised their price target 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. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.45.

Insider Activity

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the company's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the sale, the chief financial officer now directly owns 260,021 shares of the company's stock, valued at approximately $5,590,451.50. This represents a 11.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the sale, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 655,890 shares of company stock worth $14,878,628 over the last 90 days. 12.60% of the stock is currently owned by corporate insiders.

MP Materials Profile

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.