Comerica Bank Sells 20,579 Shares of MP Materials Corp. (NYSE:MP)

Comerica Bank trimmed its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 30.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,751 shares of the company's stock after selling 20,579 shares during the period. Comerica Bank's holdings in MP Materials were worth $745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its stake in MP Materials by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock valued at $322,000 after acquiring an additional 662 shares during the period. Quadrant Capital Group LLC boosted its position in shares of 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 buying an additional 701 shares during the period. SWS Partners boosted its position in shares of MP Materials by 0.4% during the fourth quarter. SWS Partners now owns 162,503 shares of the company's stock worth $2,535,000 after buying an additional 707 shares during the period. Handelsbanken Fonder AB boosted its position in shares of MP Materials by 4.0% during the fourth quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company's stock worth $605,000 after buying an additional 1,500 shares during the period. Finally, KBC Group NV boosted its position in shares of MP Materials by 33.0% during the fourth quarter. KBC Group NV now owns 6,297 shares of the company's stock worth $98,000 after buying an additional 1,564 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 230,100 shares in the company, valued at approximately $5,869,851. The trade was a 20.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James H. Litinsky sold 489,918 shares of MP Materials stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $26.77, for a total value of $13,115,104.86. Following the transaction, the chief executive officer now owns 15,153,158 shares of the company's stock, valued at $405,650,039.66. This trade represents a 3.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 943,792 shares of company stock valued at $25,286,567 in the last three months. Insiders own 12.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. DA Davidson upped their price objective on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. reduced their price objective on MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. Finally, BMO Capital Markets upped their target price on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, MP Materials currently has an average rating of "Moderate Buy" and a consensus target price of $23.61.

MP Materials Stock Performance

NYSE:MP traded up $0.00 on Friday, hitting $21.32. The company's stock had a trading volume of 4,266,891 shares, compared to its average volume of 3,711,799. The firm has a market capitalization of $3.48 billion, a P/E ratio of -36.14 and a beta of 2.24. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a one year low of $10.02 and a one year high of $29.72. The stock has a fifty day moving average of $24.47 and a two-hundred day moving average of $21.94.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The company had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The company's quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) EPS. Research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current 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.