Private Advisor Group LLC Raises Stock Holdings in MP Materials Corp. (NYSE:MP)

Private Advisor Group LLC grew its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 76.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 248,591 shares of the company's stock after purchasing an additional 107,738 shares during the quarter. Private Advisor Group LLC owned approximately 0.15% of MP Materials worth $3,878,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its stake in shares of MP Materials by 205.4% in the 4th 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 during the last quarter. Nisa Investment Advisors LLC grew its holdings in MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock worth $51,000 after acquiring an additional 2,200 shares during the period. GAMMA Investing LLC raised 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 worth $59,000 after acquiring an additional 1,545 shares in the last quarter. Signaturefd LLC lifted its stake in shares of MP Materials by 817.5% in the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company's stock valued at $65,000 after purchasing an additional 3,262 shares during the period. Finally, KBC Group NV boosted its position in shares of MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company's stock valued at $84,000 after purchasing an additional 1,246 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Stock Down 1.4 %

NYSE:MP traded down $0.34 during trading hours on Thursday, hitting $23.44. 2,033,732 shares of the company traded hands, compared to its average volume of 3,267,440. MP Materials Corp. has a one year low of $10.02 and a one year 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 market cap of $3.82 billion, a PE ratio of -39.72 and a beta of 2.34. The firm's 50-day simple moving average is $20.81 and its 200-day simple moving average is $18.26.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). The firm had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. Equities analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Activity

In related news, CEO James H. Litinsky sold 386,223 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 15,643,076 shares of the company's stock, 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. Also, CFO Ryan Corbett sold 35,000 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.50, for a total transaction of $752,500.00. Following the sale, the chief financial officer now owns 260,021 shares of the company's stock, valued at $5,590,451.50. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 655,890 shares of company stock valued at $14,878,628 over the last three months. Corporate insiders own 12.60% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MP. Canaccord Genuity Group increased their price target on 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 upped their price objective on shares of MP Materials from $19.50 to $22.00 and gave the company a "market perform" rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.45.

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.