Janney Montgomery Scott LLC Lowers Position in MP Materials Corp. (NYSE:MP)

Janney Montgomery Scott LLC decreased its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 24.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,371 shares of the company's stock after selling 13,255 shares during the quarter. Janney Montgomery Scott LLC's holdings in MP Materials were worth $1,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MP. NBC Securities Inc. lifted its holdings in shares of MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after acquiring an additional 1,199 shares during the last quarter. Quadrant Capital Group LLC increased its stake in MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after purchasing an additional 701 shares during the period. SBI Securities Co. Ltd. bought a new stake in MP Materials during the 4th quarter valued at about $40,000. IMG Wealth Management Inc. purchased a new stake in shares of MP Materials in the fourth quarter valued at approximately $66,000. Finally, CX Institutional purchased a new stake in shares of MP Materials in the 1st quarter worth $79,000. Institutional investors own 52.55% of the company's stock.

Wall Street Analyst Weigh In

MP has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, May 12th. 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. DA Davidson boosted their target price on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $23.00 to $34.00 in a report on Thursday, June 5th. Finally, Robert W. Baird raised their target price on MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.44.

Insider Activity

In other news, CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.08, for a total value of $5,393,794.40. Following the completion of the transaction, the chief executive officer now directly owns 13,643,076 shares of the company's stock, valued at approximately $369,454,498.08. The trade was a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 12.60% of the company's stock.

MP Materials Stock Performance

Shares of MP stock opened at $32.85 on Monday. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $39.10. The company has a market cap of $5.37 billion, a price-to-earnings ratio of -50.54 and a beta of 2.14. The stock has a 50 day simple moving average of $25.70 and a 200-day simple moving average of $23.57.

MP Materials (NYSE:MP - Get Free Report) last announced its 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). MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The business had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. During the same quarter in the previous year, the firm posted ($0.04) EPS. The business's revenue was up 24.9% on a year-over-year basis. On average, equities analysts forecast that MP Materials Corp. will post -0.19 EPS 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.

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