Victory Capital Management Inc. Acquires 73,297 Shares of MP Materials Corp. (NYSE:MP)

Victory Capital Management Inc. grew its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,432,389 shares of the company's stock after acquiring an additional 73,297 shares during the quarter. Victory Capital Management Inc. owned about 1.49% of MP Materials worth $37,945,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in MP Materials during the fourth quarter valued at $40,000. Geneos Wealth Management Inc. raised its position in shares of MP Materials by 205.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock valued at $43,000 after buying an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of MP Materials by 204.7% in the 4th 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 during the last quarter. GAMMA Investing LLC grew its position in MP Materials by 69.3% in the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company's stock worth $59,000 after acquiring an additional 1,545 shares in the last quarter. Finally, KBC Group NV increased its stake in MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company's stock worth $84,000 after acquiring an additional 1,246 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group raised their price objective on MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. BMO Capital Markets increased their price target on MP Materials from $19.50 to $22.00 and gave the company a "market perform" rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.45.

MP Materials Trading Up 1.4 %

MP traded up $0.34 during trading hours on Wednesday, reaching $24.35. 2,134,037 shares of the company's stock traded hands, compared to its average volume of 3,138,867. The firm has a 50-day moving average price of $22.20 and a 200 day moving average price of $19.05. The firm has a market capitalization of $3.98 billion, a PE ratio of -41.26 and a beta of 2.32. 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 Corp. has a 52-week low of $10.02 and a 52-week high of $26.00.

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). The company had revenue of $60.99 million for the quarter, compared to analysts' expectations of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. As a group, sell-side analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the sale, the chief executive officer now directly owns 15,643,076 shares of the company's stock, valued at $375,590,254.76. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.60% of the stock is owned by corporate insiders.

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.