MP Materials Corp. (NYSE:MP) Stock Position Cut by QVT Financial LP

QVT Financial LP reduced its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 56.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,531,571 shares of the company's stock after selling 1,962,587 shares during the quarter. MP Materials accounts for about 2.1% of QVT Financial LP's investment portfolio, making the stock its 5th largest holding. QVT Financial LP owned about 0.94% of MP Materials worth $23,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MP. Quadrant Capital Group LLC boosted its position 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 purchasing an additional 701 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of MP Materials in the fourth quarter valued at about $40,000. Geneos Wealth Management Inc. grew its stake in shares of MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock valued at $43,000 after acquiring an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock valued at $51,000 after acquiring an additional 2,200 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in MP Materials by 69.3% during the fourth 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 period. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Stock Down 1.0 %

Shares of NYSE:MP traded down $0.26 during trading on Tuesday, hitting $24.59. The stock had a trading volume of 5,971,379 shares, compared to its average volume of 3,598,671. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $29.72. The company has a market capitalization of $4.02 billion, a PE ratio of -41.68 and a beta of 2.24. The firm's fifty day moving average is $24.71 and its 200 day moving average is $21.53. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results 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 business had revenue of $60.99 million for the quarter, compared to analysts' expectations of $50.71 million. Analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Activity

In other MP Materials news, CEO James H. Litinsky sold 386,223 shares of the 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 sale, the chief executive officer now owns 15,643,076 shares in the company, valued at $375,590,254.76. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ryan Corbett sold 60,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the completion of the sale, the chief financial officer now directly owns 230,100 shares of the company's stock, valued at $5,869,851. The trade was a 20.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,330,015 shares of company stock valued at $34,559,781 in the last quarter. 12.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on MP shares. BMO Capital Markets increased their target price 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. DA Davidson increased their target price on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, MP Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.61.

MP Materials Company 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.