Proficio Capital Partners LLC acquired a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 25,553 shares of the company's stock, valued at approximately $399,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MP. Sprott Inc. raised its holdings in MP Materials by 177.2% in the 4th quarter. Sprott Inc. now owns 58,903 shares of the company's stock valued at $919,000 after buying an additional 37,657 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in MP Materials by 4.0% in the 4th quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company's stock valued at $605,000 after buying an additional 1,500 shares during the last quarter. Private Advisor Group LLC raised its holdings in MP Materials by 76.5% in the 4th quarter. Private Advisor Group LLC now owns 248,591 shares of the company's stock valued at $3,878,000 after buying an additional 107,738 shares during the last quarter. CIBC Asset Management Inc bought a new position in MP Materials in the 4th quarter valued at approximately $159,000. Finally, Principal Financial Group Inc. raised its holdings in MP Materials by 48.7% in the 4th quarter. Principal Financial Group Inc. now owns 899,698 shares of the company's stock valued at $14,035,000 after buying an additional 294,806 shares during the last quarter. Institutional investors own 52.55% of the company's stock.
MP Materials Stock Performance
Shares of NYSE MP traded up $2.55 during mid-day trading on Friday, reaching $26.93. 4,815,330 shares of the company's stock were exchanged, compared to its average volume of 3,303,428. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -45.65 and a beta of 2.32. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $26.95. 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 firm has a 50-day moving average price of $22.53 and a two-hundred day moving average price of $19.12.
MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. Analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. 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. BMO Capital Markets lifted their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a "market perform" rating in a research 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's stock. According to MarketBeat.com, MP Materials currently has an average rating of "Moderate Buy" and an average target price of $22.45.
View Our Latest Stock Analysis on MP
Insider Activity at MP Materials
In related news, CEO James H. Litinsky sold 386,223 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.60% of the stock is currently owned by company insiders.
MP Materials Company Profile
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Free Report)
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.
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