Wealthfront Advisers LLC bought a new position in MP Materials Corp. (NYSE:MP - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 287,440 shares of the company's stock, valued at approximately $4,484,000. Wealthfront Advisers LLC owned approximately 0.18% of MP Materials at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of MP. SBI Securities Co. Ltd. purchased a new position in MP Materials during the 4th quarter worth $40,000. Geneos Wealth Management Inc. grew 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 valued at $43,000 after buying an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC increased its position 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 period. GAMMA Investing LLC raised its stake 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 acquiring an additional 1,545 shares during the last quarter. Finally, KBC Group NV grew its stake in MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company's stock valued at $84,000 after purchasing an additional 1,246 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.
MP Materials Trading Up 10.5 %
Shares of MP traded up $2.55 during midday trading on Friday, reaching $26.93. The company had a trading volume of 4,816,459 shares, compared to its average volume of 3,108,491. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $26.95. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The firm has a 50 day simple moving average of $22.71 and a 200-day simple moving average of $19.22. The stock has a market cap of $4.40 billion, a PE ratio of -45.65 and a beta of 2.32.
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 analysts' consensus estimates of ($0.09) by ($0.05). The firm had revenue of $60.99 million for the quarter, compared to analysts' expectations of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. Research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on MP shares. Canaccord Genuity Group lifted their target price on MP Materials from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. 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 report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.45.
Read Our Latest Research Report on MP
Insider Buying and Selling at MP Materials
In related 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 in the company, 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 can be accessed through this hyperlink. Company insiders own 12.60% of the company's stock.
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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