Adage Capital Partners GP L.L.C. Invests $2.33 Million in MP Materials Corp. (NYSE:MP)

Adage Capital Partners GP L.L.C. purchased a new stake in MP Materials Corp. (NYSE:MP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 149,437 shares of the company's stock, valued at approximately $2,331,000. Adage Capital Partners GP L.L.C. owned approximately 0.09% of MP Materials as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after acquiring an additional 701 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of MP Materials during the fourth quarter worth $40,000. Geneos Wealth Management Inc. lifted its stake in shares of MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock valued at $43,000 after acquiring an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of MP Materials by 204.7% during 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 in the last quarter. Finally, GAMMA Investing LLC grew its position in MP Materials by 69.3% during 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. Institutional investors and hedge funds own 52.55% of the company's stock.

Wall Street Analyst Weigh In

MP has been the subject of several recent research reports. BMO Capital Markets upped their price objective on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reduced their price objective on shares of MP Materials from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, DA Davidson raised their target price on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $23.94.

MP Materials Stock Up 1.4 %

Shares of MP Materials stock traded up $0.36 during trading on Monday, reaching $25.37. 1,062,608 shares of the company traded hands, compared to its average volume of 4,681,844. The firm has a market capitalization of $4.15 billion, a PE ratio of -42.96 and a beta of 2.24. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $29.72. The company has a 50 day moving average price of $24.77 and a 200-day moving average price of $21.71. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

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 the consensus estimate of ($0.09) by ($0.05). The firm had revenue of $60.99 million during the quarter, compared to analyst estimates 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, equities research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Activity at MP Materials

In other news, CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the sale, the chief financial officer now directly owns 230,100 shares in the company, valued at $5,869,851. The trade was a 20.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 386,223 shares of the firm's stock in a transaction dated 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 owns 15,643,076 shares of the company's stock, valued at $375,590,254.76. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,330,015 shares of company stock valued at $34,559,781. 12.60% of the stock is owned by company 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.