RFG Advisory LLC Invests $1.04 Million in MP Materials Corp. (NYSE:MP)

RFG Advisory LLC acquired a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 42,677 shares of the company's stock, valued at approximately $1,042,000.

Several other institutional investors have also modified their holdings of the business. JT Stratford LLC lifted its holdings in shares of MP Materials by 0.7% during the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company's stock valued at $993,000 after purchasing an additional 424 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of MP Materials by 3.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock valued at $322,000 after purchasing an additional 662 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after purchasing an additional 701 shares in the last quarter. SWS Partners lifted its holdings in shares of MP Materials by 0.4% during the 4th quarter. SWS Partners now owns 162,503 shares of the company's stock valued at $2,535,000 after purchasing an additional 707 shares in the last quarter. Finally, Delta Investment Management LLC lifted its holdings in shares of MP Materials by 3.6% during the 4th quarter. Delta Investment Management LLC now owns 22,025 shares of the company's stock valued at $344,000 after purchasing an additional 767 shares in the last quarter. Institutional investors own 52.55% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and set a $34.00 target price on the stock in a research note on Thursday. JPMorgan Chase & Co. cut their target price on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. BMO Capital Markets boosted their target price on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research note on Thursday, March 20th. Finally, DA Davidson boosted their target price on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.61.

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $25.51, for a total value 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. This represents a 20.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James H. Litinsky sold 199,180 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $27.08, for a total value of $5,393,794.40. Following the completion of the transaction, the chief executive officer now directly owns 13,643,076 shares in the company, 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. In the last three months, insiders have sold 943,792 shares of company stock valued at $25,286,567. 9.50% of the stock is owned by insiders.

MP Materials Trading Up 5.2%

Shares of MP Materials stock opened at $25.86 on Friday. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $29.72. The stock has a market cap of $4.23 billion, a P/E ratio of -43.84 and a beta of 2.14. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The business's 50 day moving average is $23.07 and its 200-day moving average is $22.14.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The company had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The company's revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. Equities research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

About MP Materials

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.

Want to see what other hedge funds are holding MP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MP Materials Corp. (NYSE:MP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.