Sicart Associates LLC Boosts Position in MP Materials Corp. (NYSE:MP)

Sicart Associates LLC lifted its position in MP Materials Corp. (NYSE:MP - Free Report) by 10.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 408,567 shares of the company's stock after acquiring an additional 37,837 shares during the quarter. MP Materials accounts for 3.4% of Sicart Associates LLC's portfolio, making the stock its 7th largest position. Sicart Associates LLC owned about 0.25% of MP Materials worth $9,973,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. raised its position in MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,199 shares during the period. Quadrant Capital Group LLC grew its stake in shares of 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 last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of MP Materials in the fourth quarter worth approximately $40,000. CX Institutional bought a new stake in shares of MP Materials during the 1st quarter worth approximately $79,000. Finally, CENTRAL TRUST Co boosted its holdings in MP Materials by 20.6% during the 1st quarter. CENTRAL TRUST Co now owns 3,965 shares of the company's stock valued at $97,000 after acquiring an additional 678 shares during the period. Institutional investors own 52.55% of the company's stock.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 199,180 shares of the business's stock in a transaction on Monday, April 14th. The stock was 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 of the company's stock, valued at approximately $369,454,498.08. The trade was a 1.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.50% of the stock is currently owned by corporate insiders.

MP Materials Stock Performance

MP stock opened at $32.85 on Friday. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $39.10. The business has a 50-day moving average price of $25.70 and a 200 day moving average price of $23.54. The company has a market capitalization of $5.37 billion, a P/E ratio of -50.54 and a beta of 2.14. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.12 and a quick ratio of 3.58.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings results 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 net margin of 48.41% and a negative return on equity of 9.77%. The business had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. During the same quarter in the prior year, the firm posted ($0.04) EPS. The company's revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MP. Robert W. Baird increased their target price on MP Materials from $30.00 to $38.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 17th. BMO Capital Markets raised their price target on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research note on Thursday, March 20th. Morgan Stanley upgraded shares of MP Materials from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $23.00 to $34.00 in a report on Thursday, June 5th. DA Davidson upped their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reduced 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. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.44.

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.

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.