Van ECK Associates Corp Has $29.51 Million Stock Holdings in MP Materials Corp. (NYSE:MP)

Van ECK Associates Corp decreased its position in MP Materials Corp. (NYSE:MP - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,891,645 shares of the company's stock after selling 434,148 shares during the quarter. Van ECK Associates Corp owned 1.16% of MP Materials worth $29,510,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of MP Materials by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,359,092 shares of the company's stock worth $41,638,000 after acquiring an additional 28,697 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company's stock valued at $21,988,000 after purchasing an additional 306,933 shares during the period. Bernzott Capital Advisors boosted its position in MP Materials by 43.4% during the 3rd quarter. Bernzott Capital Advisors now owns 689,270 shares of the company's stock valued at $12,166,000 after purchasing an additional 208,586 shares during the period. Principal Financial Group Inc. boosted its position in MP Materials by 35.7% during the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company's stock valued at $10,676,000 after purchasing an additional 159,200 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in 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 valued at $8,923,000 after purchasing an additional 59,469 shares during the period. Institutional investors and hedge funds own 52.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MP shares. JPMorgan Chase & Co. boosted their price objective on MP Materials from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. BMO Capital Markets boosted their price objective on MP Materials from $19.50 to $22.00 and gave the company a "market perform" rating in a research report on Monday, January 27th. Finally, Canaccord Genuity Group boosted their price objective on MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.45.

MP Materials Price Performance

Shares of MP traded up $0.16 during midday trading on Tuesday, reaching $23.88. The stock had a trading volume of 784,730 shares, compared to its average volume of 3,289,583. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $26.00. 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's 50 day moving average price is $20.13 and its 200-day moving average price is $17.68. The company has a market capitalization of $3.90 billion, a P/E ratio of -44.31 and a beta of 2.34.

Insider Transactions at MP Materials

In other news, CEO James H. Litinsky sold 386,223 shares of the business'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 sale, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 35,000 shares of the business's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the sale, the chief financial officer now directly owns 260,021 shares in the company, valued at $5,590,451.50. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 955,890 shares of company stock valued at $20,944,628. Corporate 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.