MP Materials Corp. (NYSE:MP) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 208,402 shares of the company's stock after selling 20,411 shares during the quarter. Nuveen Asset Management LLC owned 0.13% of MP Materials worth $3,251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Quadrant Capital Group LLC grew its position in MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after buying an additional 701 shares during the period. SBI Securities Co. Ltd. acquired a new stake in MP Materials during the fourth quarter valued at $40,000. IMG Wealth Management Inc. acquired a new stake in shares of MP Materials in the fourth quarter valued at about $66,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of MP Materials in the fourth quarter valued at about $86,000. Finally, KBC Group NV grew its position in shares of MP Materials by 33.0% in the fourth quarter. KBC Group NV now owns 6,297 shares of the company's stock valued at $98,000 after purchasing an additional 1,564 shares during the period. Institutional investors and hedge funds own 52.55% of the company's stock.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the transaction, the chief financial officer now directly owns 230,100 shares of the company's stock, valued at $5,869,851. The trade was a 20.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $5,393,794.40. Following the sale, the chief executive officer now owns 13,643,076 shares of the company's stock, valued at approximately $369,454,498.08. This represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 943,792 shares of company stock valued at $25,286,567 over the last ninety days. Company insiders own 9.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. DA Davidson lifted 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 upgraded shares of MP Materials from an "equal weight" rating to an "overweight" rating and set a $34.00 target price on the stock in a research report on Thursday. Finally, BMO Capital Markets lifted their target price on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research report on Thursday, March 20th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, MP Materials has a consensus rating of "Moderate Buy" and an average target price of $25.61.

MP Materials Price Performance

Shares of NYSE:MP traded up $1.28 during midday trading on Thursday, hitting $25.86. The company's stock had a trading volume of 21,344,376 shares, compared to its average volume of 3,999,316. The business's 50 day simple moving average is $23.07 and its 200 day simple moving average is $22.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The company has a market cap of $4.23 billion, a P/E ratio of -43.84 and a beta of 2.14. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $29.72.

MP Materials (NYSE:MP - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $64.74 million. During the same period last year, the firm earned ($0.04) earnings per share. MP Materials's revenue for the quarter was up 24.9% on a year-over-year basis. On average, analysts forecast that MP Materials Corp. will post -0.19 EPS for the current year.

MP Materials 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.