Raymond James Financial Inc. acquired a new position in MP Materials Corp. (NYSE:MP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 402,818 shares of the company's stock, valued at approximately $6,284,000. Raymond James Financial Inc. owned approximately 0.25% of MP Materials at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in MP Materials in the 4th quarter worth $40,000. Geneos Wealth Management Inc. lifted its holdings in shares of MP Materials by 205.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock worth $43,000 after purchasing an additional 1,849 shares during the period. Nisa Investment Advisors LLC boosted its position in 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 buying an additional 2,200 shares during the last quarter. GAMMA Investing LLC increased its holdings in 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 buying an additional 1,545 shares during the period. Finally, KBC Group NV raised its position in MP Materials by 33.0% during the 4th quarter. KBC Group NV now owns 6,297 shares of the company's stock worth $98,000 after buying an additional 1,564 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CFO Ryan Corbett sold 60,000 shares of the firm'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 value of $1,530,600.00. Following the transaction, the chief financial officer now owns 230,100 shares in the company, valued at $5,869,851. This trade represents a 20.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James H. Litinsky sold 489,918 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $26.77, for a total value of $13,115,104.86. Following the sale, the chief executive officer now owns 15,153,158 shares of the company's stock, valued at $405,650,039.66. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,130,835 shares of company stock worth $29,165,987. Company insiders own 12.60% of the company's stock.
Wall Street Analyst Weigh In
MP has been the topic of a number of research reports. DA Davidson increased their price objective on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. BMO Capital Markets increased their price target on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $23.61.
Check Out Our Latest Report on MP
MP Materials Price Performance
Shares of MP Materials stock traded down $0.20 on Friday, hitting $25.97. The company's stock had a trading volume of 3,137,323 shares, compared to its average volume of 3,188,894. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of -44.02 and a beta of 2.32. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $27.29. 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 firm has a fifty day moving average price of $23.86 and a 200-day moving average price of $20.05.
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 analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $50.71 million. As a group, sell-side analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.
About MP Materials
(
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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