Northwestern Mutual Wealth Management Co. Buys 96,779 Shares of MP Materials Corp. $MP

Northwestern Mutual Wealth Management Co. lifted its stake in MP Materials Corp. (NYSE:MP - Free Report) by 84.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,737 shares of the company's stock after purchasing an additional 96,779 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.12% of MP Materials worth $10,646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MP. Royal Bank of Canada boosted its position in shares of 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 position in shares of MP Materials in the 1st quarter worth $215,000. Integrated Wealth Concepts LLC bought a new position in shares of MP Materials in the 1st quarter worth $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of MP Materials by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company's stock worth $265,000 after purchasing an additional 479 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of 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 purchasing an additional 51,348 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on MP shares. Barclays started coverage on MP Materials in a research report on Thursday, May 21st. They issued an "overweight" rating and a $69.00 price target on the stock. Canaccord Genuity Group set a $82.00 target price on MP Materials in a report on Friday, May 8th. Morgan Stanley lifted their target price on MP Materials from $62.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Finally, TD Securities upgraded MP Materials to a "strong-buy" rating in a report on Monday, February 9th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $80.14.

Insider Activity

In other news, CFO Ryan Corbett sold 20,000 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the sale, the chief financial officer directly owned 109,017 shares in the company, valued at $8,176,275. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James H. Litinsky sold 50,000 shares of the business's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $64.58, for a total value of $3,229,000.00. Following the completion of the sale, the chief executive officer owned 11,805,965 shares in the company, valued at approximately $762,429,219.70. This trade represents a 0.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,066,000 shares of company stock worth $69,329,207 over the last three months. Corporate insiders own 8.20% of the company's stock.

MP Materials Stock Performance

Shares of MP Materials stock opened at $69.55 on Tuesday. The firm has a market cap of $12.38 billion, a price-to-earnings ratio of -165.60 and a beta of 1.90. The stock's 50-day moving average is $59.69 and its 200-day moving average is $59.54. MP Materials Corp. has a one year low of $20.10 and a one year high of $100.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.18 and a quick ratio of 6.58.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.04. The company had revenue of $90.65 million for the quarter, compared to analyst estimates of $74.82 million. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The company's quarterly revenue was up 49.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) earnings per share. Equities analysts predict that MP Materials Corp. will post -0.04 earnings per share for the current fiscal year.

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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