GAMMA Investing LLC Grows Stock Position in MP Materials Corp. (NYSE:MP)

GAMMA Investing LLC raised its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 3,618.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,358 shares of the company's stock after acquiring an additional 136,583 shares during the period. GAMMA Investing LLC owned about 0.09% of MP Materials worth $3,426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MP. Price T Rowe Associates Inc. MD grew its holdings in shares of MP Materials by 44.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock worth $101,986,000 after purchasing an additional 2,005,505 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in MP Materials in the 4th quarter worth about $14,886,000. Raymond James Financial Inc. bought a new stake in MP Materials in the 4th quarter worth about $6,284,000. HITE Hedge Asset Management LLC bought a new stake in MP Materials in the 4th quarter worth about $6,019,000. Finally, Two Sigma Advisers LP bought a new stake in MP Materials in the 4th quarter worth about $5,524,000. 52.55% of the stock is currently owned by institutional investors.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 161,175 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $26.94, for a total transaction of $4,342,054.50. Following the sale, the chief executive officer now owns 14,352,689 shares in the company, valued at approximately $386,661,441.66. This represents a 1.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 15,000 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the sale, the chief financial officer now owns 214,812 shares in the company, valued at $5,799,924. The trade was a 6.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 883,792 shares of company stock valued at $23,755,967 in the last ninety days. Corporate insiders own 9.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MP. DA Davidson lifted their price objective on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $23.00 to $34.00 in a report on Thursday, June 5th. BMO Capital Markets boosted their price target 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. Finally, JPMorgan Chase & Co. cut their price target on MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, MP Materials currently has a consensus rating of "Moderate Buy" and an average price target of $25.61.

MP Materials Price Performance

NYSE MP traded up $1.19 during trading hours on Friday, reaching $30.39. The company's stock had a trading volume of 25,259,135 shares, compared to its average volume of 4,323,951. The firm's 50-day moving average price is $23.51 and its 200-day moving average price is $22.48. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $30.78. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of -51.51 and a beta of 2.14.

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

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.