MP Materials Corp. (NYSE:MP) Stake Trimmed by Skylands Capital LLC

Skylands Capital LLC decreased its position in MP Materials Corp. (NYSE:MP - Free Report) by 15.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,500 shares of the company's stock after selling 31,500 shares during the quarter. Skylands Capital LLC owned 0.11% of MP Materials worth $4,333,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MP. NBC Securities Inc. lifted its stake in MP Materials by 119,900.0% during the first 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 last quarter. Quadrant Capital Group LLC lifted its stake in MP Materials by 40.3% in 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. bought a new stake in MP Materials in the fourth quarter valued at $40,000. IMG Wealth Management Inc. bought a new stake in MP Materials in the fourth quarter valued at $66,000. Finally, CX Institutional bought a new stake in MP Materials in the first quarter valued at $79,000. Institutional investors and hedge funds own 52.55% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BMO Capital Markets raised 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. Robert W. Baird raised their price target on MP Materials from $30.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. DA Davidson raised their price target on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. lowered their price target on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. Finally, Morgan Stanley raised MP Materials from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $23.00 to $34.00 in a report on Thursday, June 5th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $27.44.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction dated 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 transaction, the chief executive officer owned 13,643,076 shares of the company's stock, valued at approximately $369,454,498.08. This trade represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.60% of the stock is currently owned by insiders.

MP Materials Price Performance

NYSE:MP traded down $1.67 during mid-day trading on Tuesday, reaching $31.60. 3,661,823 shares of the stock were exchanged, compared to its average volume of 4,685,802. The business has a fifty day moving average price of $25.90 and a 200 day moving average price of $23.67. The firm has a market capitalization of $5.16 billion, a PE ratio of -48.82 and a beta of 2.14. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $39.10. The company has a current ratio of 4.12, a quick ratio of 3.58 and a debt-to-equity ratio of 0.81.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results 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 firm had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. MP Materials's revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) earnings per share. Research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal 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.