Pinkerton Wealth LLC Has $956,000 Stock Position in MP Materials Corp. $MP

Key Points

• Pinkerton Wealth LLC cut its stake in MP Materials by 49.6% in Q3, selling 14,016 shares and now holding 14,249 shares valued at $956,000.
• CEO James H. Litinsky sold 272,600 shares on January 8 at an average of $64.17 for roughly $17.49 million, a 2.08% reduction in his ownership, while insiders still own 12.60% of the stock.
• Analysts have a consensus Buy rating with an average target of $78.91; MP trades around $60.35, has a $10.7 billion market cap, and a 52-week range of $18.64–$100.25.

Pinkerton Wealth LLC lowered its stake in MP Materials Corp. (NYSE:MP - Free Report) by 49.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,249 shares of the company's stock after selling 14,016 shares during the quarter. Pinkerton Wealth LLC's holdings in MP Materials were worth $956,000 as of its most recent filing with the Securities and Exchange Commission.

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

MP Materials Stock Performance

Shares of NYSE MP opened at $60.35 on Tuesday. The business's 50-day simple moving average is $60.96 and its 200-day simple moving average is $63.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.67 and a current ratio of 7.24. MP Materials Corp. has a 52 week low of $18.64 and a 52 week high of $100.25. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of -116.06 and a beta of 1.55.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 272,600 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 12,805,965 shares of the company's stock, valued at $821,758,774.05. This represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.60% of the stock is owned by insiders.

Analysts Set New Price Targets

MP has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded shares of MP Materials from a "neutral" rating to an "overweight" rating and lowered their price objective for the stock from $75.00 to $74.00 in a research report on Friday, November 14th. Deutsche Bank Aktiengesellschaft upgraded MP Materials from a "hold" rating to a "buy" rating and increased their target price for the company from $68.00 to $71.00 in a report on Monday, November 10th. TD Securities upgraded MP Materials to a "strong-buy" rating in a report on Monday, February 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of MP Materials in a research report on Thursday, January 22nd. Finally, William Blair reissued an "outperform" rating on shares of MP Materials in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $78.91.

MP Materials Company Profile

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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