259,700 Shares in MP Materials Corp. (NYSE:MP) Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board purchased a new stake in MP Materials Corp. (NYSE:MP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 259,700 shares of the company's stock, valued at approximately $4,584,000. Public Sector Pension Investment Board owned 0.16% of MP Materials as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Comerica Bank raised its stake in MP Materials by 16.7% during the 1st quarter. Comerica Bank now owns 71,564 shares of the company's stock valued at $1,023,000 after purchasing an additional 10,264 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of MP Materials during the 1st quarter worth approximately $356,000. Teachers Retirement System of The State of Kentucky increased its position in shares of MP Materials by 12.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 47,179 shares of the company's stock valued at $675,000 after purchasing an additional 5,200 shares during the period. CWM LLC raised its stake in shares of MP Materials by 425.5% in the second quarter. CWM LLC now owns 9,827 shares of the company's stock valued at $125,000 after purchasing an additional 7,957 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in MP Materials in the second quarter worth $194,000. 52.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on MP Materials from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, October 21st. Morgan Stanley upped their price objective on MP Materials from $13.50 to $16.00 and gave the stock an "equal weight" rating in a report on Thursday, September 19th. BMO Capital Markets lifted their price target on shares of MP Materials from $16.00 to $18.50 and gave the stock a "market perform" rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their target price on MP Materials from $13.50 to $12.50 and set a "hold" rating for the company in a research report on Tuesday, August 6th. Finally, Robert W. Baird raised their price objective on MP Materials from $20.00 to $25.00 and gave the stock an "outperform" rating in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.10.

MP Materials Stock Down 1.2 %

NYSE:MP traded down $0.26 on Monday, hitting $20.81. The stock had a trading volume of 2,890,956 shares, compared to its average volume of 3,200,983. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $21.70. The firm's fifty day simple moving average is $18.41 and its two-hundred day simple moving average is $15.51. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The stock has a market cap of $3.40 billion, a P/E ratio of -38.48 and a beta of 2.23.

MP Materials declared that its Board of Directors has approved a stock buyback plan on Tuesday, September 3rd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 300,000 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total value of $6,066,000.00. Following the sale, the chief executive officer now directly owns 18,043,076 shares in the company, valued at approximately $364,830,996.72. The trade was a 1.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $752,500.00. Following the sale, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $5,590,451.50. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 650,195 shares of company stock worth $12,631,569 in the last ninety days. Company insiders own 12.60% of the company's stock.

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.