Millennium Management LLC Has $1.56 Million Position in MP Materials Corp. (NYSE:MP)

Millennium Management LLC decreased its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 66.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,967 shares of the company's stock after selling 201,960 shares during the quarter. Millennium Management LLC owned about 0.06% of MP Materials worth $1,559,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Lighthouse Investment Partners LLC acquired a new position in shares of MP Materials during the 4th quarter worth approximately $624,000. Interval Partners LP bought a new position in shares of MP Materials during the 4th quarter worth approximately $164,000. Janus Henderson Group PLC boosted its stake in shares of MP Materials by 39.3% during the 4th quarter. Janus Henderson Group PLC now owns 59,164 shares of the company's stock worth $923,000 after acquiring an additional 16,698 shares during the period. Deutsche Bank AG boosted its stake in shares of MP Materials by 100.9% during the 4th quarter. Deutsche Bank AG now owns 10,682 shares of the company's stock worth $167,000 after acquiring an additional 5,365 shares during the period. Finally, CoreCommodity Management LLC boosted its stake in shares of MP Materials by 132.8% during the 4th quarter. CoreCommodity Management LLC now owns 36,570 shares of the company's stock worth $570,000 after acquiring an additional 20,858 shares during the period. Institutional investors and hedge funds own 52.55% of the company's stock.

Insider Activity

In other news, CFO Ryan Corbett sold 60,000 shares of the stock in a transaction on Friday, March 14th. The stock was 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 directly owns 230,100 shares in the company, valued at approximately $5,869,851. This represents a 20.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 161,175 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $4,342,054.50. Following the sale, the chief executive officer now directly owns 14,352,689 shares in the company, valued at approximately $386,661,441.66. This trade represents a 1.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 943,792 shares of company stock worth $25,286,567. Insiders own 9.50% of the company's stock.

MP Materials Price Performance

MP stock traded down $0.26 during midday trading on Friday, reaching $25.67. The company had a trading volume of 8,747,865 shares, compared to its average volume of 4,027,061. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $29.72. The stock has a 50 day moving average price of $23.08 and a 200-day moving average price of $22.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of -43.51 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The firm had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The business's revenue was up 24.9% on a year-over-year basis. Equities research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. DA Davidson lifted their target price on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. BMO Capital Markets lifted their target price on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research note on Thursday, March 20th. Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $23.00 to $34.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. reduced 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 given a buy rating to the company's stock. Based on data from MarketBeat, MP Materials presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.61.

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.