Wealthfront Advisers LLC Purchases Shares of 287,440 MP Materials Corp. (NYSE:MP)

Wealthfront Advisers LLC bought a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund 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.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Victory Capital Management Inc. grew its stake in MP Materials by 3.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company's stock valued at $37,945,000 after acquiring an additional 73,297 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake 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 acquiring an additional 306,933 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in MP Materials by 15.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company's stock valued at $16,843,000 after acquiring an additional 144,661 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of MP Materials by 48.7% during the 4th quarter. Principal Financial Group Inc. now owns 899,698 shares of the company's stock valued at $14,035,000 after buying an additional 294,806 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of 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 buying an additional 59,469 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

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Analysts Set New Price Targets

MP has been the subject of several research reports. BMO Capital Markets lifted 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. Canaccord Genuity Group lifted their price target on MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.45.

MP Materials Stock Performance

NYSE MP traded up $2.55 during trading on Friday, hitting $26.93. The company's stock had a trading volume of 4,816,459 shares, compared to its average volume of 3,102,185. 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 moving average price of $22.71 and a 200 day moving average price of $19.31. The firm has a market cap of $4.40 billion, a P/E ratio of -45.65 and a beta of 2.32. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $26.95.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly 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). The business had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. Equities research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO James H. Litinsky sold 386,223 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.60% of the stock is currently owned by company insiders.

MP Materials 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.