Secure Asset Management LLC Decreases Stake in MP Materials Corp. (NYSE:MP)

Secure Asset Management LLC reduced its stake in MP Materials Corp. (NYSE:MP - Free Report) by 11.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,130 shares of the company's stock after selling 12,258 shares during the quarter. Secure Asset Management LLC owned about 0.06% of MP Materials worth $2,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. RFG Advisory LLC bought a new position in MP Materials during the 1st quarter worth approximately $1,042,000. NBC Securities Inc. lifted its stake 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 purchasing an additional 1,199 shares during the period. Mirador Capital Partners LP raised its stake in MP Materials by 4.7% during the first quarter. Mirador Capital Partners LP now owns 24,263 shares of the company's stock valued at $592,000 after buying an additional 1,091 shares during the last quarter. Parallel Advisors LLC raised its stake in MP Materials by 40.4% during the first quarter. Parallel Advisors LLC now owns 5,734 shares of the company's stock valued at $140,000 after buying an additional 1,651 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in MP Materials by 3,618.1% during the first quarter. GAMMA Investing LLC now owns 140,358 shares of the company's stock valued at $3,426,000 after buying an additional 136,583 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

MP Materials Stock Performance

Shares of MP traded up $1.28 during trading hours on Thursday, hitting $25.86. The stock had a trading volume of 21,344,376 shares, compared to its average volume of 3,999,316. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $29.72. The firm has a market capitalization of $4.23 billion, a PE ratio of -43.84 and a beta of 2.14. The stock has a fifty day moving average price of $23.04 and a 200 day moving average price of $22.08.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) 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 during the quarter, compared to the consensus estimate of $64.74 million. During the same period in the previous year, the firm earned ($0.04) EPS. The business's revenue was up 24.9% on a year-over-year basis. Analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on MP shares. DA Davidson lifted their price objective on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, March 19th. Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and set a $34.00 price objective for the company in a research note on Thursday. 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 report on Thursday, March 20th. Finally, JPMorgan Chase & Co. decreased 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $25.61.

Insider Buying and Selling at MP Materials

In other news, CEO James H. Litinsky sold 489,918 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $26.77, for a total value of $13,115,104.86. Following the completion of the transaction, the chief executive officer now owns 15,153,158 shares of the company's stock, valued at $405,650,039.66. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ryan Corbett sold 15,000 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,812 shares of the company's stock, valued at approximately $5,799,924. This trade represents a 6.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 943,792 shares of company stock valued at $25,286,567. Company insiders own 9.50% of the company's stock.

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.