Price T Rowe Associates Inc. MD Has $101.99 Million Holdings in MP Materials Corp. (NYSE:MP)

Price T Rowe Associates Inc. MD boosted its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 44.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,537,511 shares of the company's stock after buying an additional 2,005,505 shares during the quarter. Price T Rowe Associates Inc. MD owned about 4.01% of MP Materials worth $101,986,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in shares of MP Materials by 3.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock worth $322,000 after buying an additional 662 shares during the period. Quadrant Capital Group LLC boosted its holdings in MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after acquiring an additional 701 shares during the period. SWS Partners grew its position in shares of MP Materials by 0.4% in the fourth quarter. SWS Partners now owns 162,503 shares of the company's stock valued at $2,535,000 after purchasing an additional 707 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of MP Materials by 4.0% in the fourth quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company's stock worth $605,000 after purchasing an additional 1,500 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of MP Materials by 69.3% during the 4th 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 last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO James H. Litinsky sold 199,180 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the completion of the sale, the chief executive officer now owns 13,643,076 shares in the company, valued at $369,454,498.08. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ryan Corbett sold 60,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the completion of the transaction, the chief financial officer now owns 230,100 shares in the company, valued at approximately $5,869,851. This trade represents a 20.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,330,015 shares of company stock worth $34,559,781 in the last 90 days. 12.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on MP shares. DA Davidson upped their price target on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. BMO Capital Markets boosted their price objective on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.61.

MP Materials Trading Down 6.2 %

Shares of MP stock opened at $24.39 on Monday. The firm has a fifty day moving average of $24.67 and a 200-day moving average of $21.48. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of -41.34 and a beta of 2.24. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $29.72. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.