Cerity Partners LLC Reduces Stock Holdings in MP Materials Corp. (NYSE:MP)

Cerity Partners LLC lessened its stake in MP Materials Corp. (NYSE:MP - Free Report) by 66.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,170 shares of the company's stock after selling 20,592 shares during the period. Cerity Partners LLC's holdings in MP Materials were worth $166,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MP. Envestnet Asset Management Inc. grew its position in MP Materials by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock valued at $322,000 after purchasing an additional 662 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after purchasing an additional 701 shares in the last quarter. SWS Partners boosted its holdings in MP Materials by 0.4% in the fourth quarter. SWS Partners now owns 162,503 shares of the company's stock worth $2,535,000 after purchasing an additional 707 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in MP Materials by 4.0% during the fourth quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company's stock valued at $605,000 after buying an additional 1,500 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of MP Materials by 69.3% during the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company's stock valued at $59,000 after acquiring an additional 1,545 shares during the last quarter. Institutional investors own 52.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BMO Capital Markets upped their target price on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research note on Thursday, March 20th. DA Davidson raised their price target on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note 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 company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $23.61.

Insider Activity

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the completion of the transaction, the chief financial officer now owns 230,100 shares in the company, valued at $5,869,851. The trade was a 20.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total value of $9,273,214.23. Following the completion of the transaction, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,330,015 shares of company stock valued at $34,559,781. Company insiders own 12.60% of the company's stock.

MP Materials Stock Up 2.2 %

MP Materials stock traded up $0.54 during mid-day trading on Thursday, reaching $25.00. The stock had a trading volume of 795,827 shares, compared to its average volume of 3,599,535. The company has a 50-day moving average price of $24.74 and a two-hundred day moving average price of $21.57. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -42.34 and a beta of 2.24. MP Materials Corp. has a one year low of $10.02 and a one year high of $29.72. 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 released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The business had revenue of $60.99 million for the quarter, compared to analysts' expectations of $50.71 million. On average, analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

MP Materials Company 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.