MP Materials Corp. $MP Shares Acquired by Private Advisor Group LLC

Key Points

• Private Advisor Group LLC boosted its stake 15.6% in MP Materials to 100,232 shares (about $6.72 million), representing roughly 0.06% of the company at quarter-end.
• CEO James H. Litinsky sold 272,600 shares on Jan. 8 for about $17.49 million (avg. $64.17), trimming his holding by 2.08%; company insiders hold 9.50% of the stock.
• Analysts are broadly positive: MP Materials carries a MarketBeat consensus rating of "Buy" with an average price target of $78.91, and several firms (Goldman Sachs, JPMorgan, Morgan Stanley) recently initiated or upgraded coverage.

Private Advisor Group LLC boosted its position in MP Materials Corp. (NYSE:MP - Free Report) by 15.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,232 shares of the company's stock after purchasing an additional 13,530 shares during the quarter. Private Advisor Group LLC owned about 0.06% of MP Materials worth $6,723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its position in MP Materials by 26.5% in the 1st quarter. Royal Bank of Canada now owns 234,185 shares of the company's stock worth $5,716,000 after purchasing an additional 49,052 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of MP Materials during the first quarter valued at approximately $215,000. Integrated Wealth Concepts LLC acquired a new position in shares of MP Materials during the first quarter worth approximately $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of MP Materials by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company's stock worth $265,000 after buying an additional 479 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in MP Materials by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company's stock worth $4,734,000 after buying an additional 51,348 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. upgraded MP Materials from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $75.00 to $74.00 in a research report on Friday, November 14th. The Goldman Sachs Group began coverage on MP Materials in a research note on Wednesday, November 19th. They issued a "buy" rating and a $77.00 price target for the company. Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $68.50 to $71.00 in a report on Friday, December 5th. BMO Capital Markets upgraded shares of MP Materials from a "market perform" rating to an "outperform" rating and cut their price objective for the company from $76.00 to $75.00 in a research note on Monday, November 24th. Finally, Wall Street Zen raised shares of MP Materials from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, MP Materials presently has a consensus rating of "Buy" and a consensus price target of $78.91.

Insider Activity

In other news, CEO James H. Litinsky sold 272,600 shares of MP Materials stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the transaction, the chief executive officer directly owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. This trade represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.50% of the company's stock.

MP Materials Price Performance

Shares of NYSE:MP opened at $60.07 on Friday. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of -115.52 and a beta of 1.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.24 and a quick ratio of 6.67. MP Materials Corp. has a 12 month low of $18.64 and a 12 month high of $100.25. The stock's 50 day moving average price is $61.61 and its 200 day moving average price is $63.57.

About MP Materials

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.

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