Proficio Capital Partners LLC Takes Position in MP Materials Corp. (NYSE:MP)

Proficio Capital Partners LLC acquired a new position in MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 25,553 shares of the company's stock, valued at approximately $399,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MP. Thrivent Financial for Lutherans boosted its stake in MP Materials by 197.0% during the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company's stock worth $1,696,000 after acquiring an additional 63,751 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of MP Materials by 13.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 505,532 shares of the company's stock worth $8,923,000 after purchasing an additional 59,469 shares in the last quarter. Great Valley Advisor Group Inc. increased its position in MP Materials by 26.9% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 103,155 shares of the company's stock valued at $1,821,000 after buying an additional 21,858 shares in the last quarter. Cerity Partners LLC raised its stake in MP Materials by 160.1% during the 3rd quarter. Cerity Partners LLC now owns 30,762 shares of the company's stock worth $543,000 after buying an additional 18,934 shares during the period. Finally, FMR LLC boosted its holdings in MP Materials by 673.5% in the third quarter. FMR LLC now owns 25,432 shares of the company's stock worth $449,000 after acquiring an additional 22,144 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

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MP Materials Stock Down 0.8 %

Shares of MP stock traded down $0.20 on Friday, hitting $25.97. The stock had a trading volume of 3,137,323 shares, compared to its average volume of 3,188,894. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The business has a 50 day moving average of $23.86 and a 200 day moving average of $20.05. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $27.29. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of -44.02 and a beta of 2.32.

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

Wall Street Analysts Forecast Growth

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

Insider Activity at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 15,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,812 shares of the company's stock, valued at approximately $5,799,924. This represents a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James H. Litinsky sold 386,223 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total value of $9,273,214.23. Following the completion of the sale, the chief executive officer now directly owns 15,643,076 shares of the company's stock, valued at $375,590,254.76. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,130,835 shares of company stock valued at $29,165,987. 12.60% of the stock is owned by 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.