Sunbelt Securities Inc. Purchases 9,095 Shares of MP Materials Corp. (NYSE:MP)

Sunbelt Securities Inc. increased its position in MP Materials Corp. (NYSE:MP - Free Report) by 472.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,019 shares of the company's stock after purchasing an additional 9,095 shares during the quarter. Sunbelt Securities Inc.'s holdings in MP Materials were worth $269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in MP Materials during the 4th quarter valued at $6,284,000. Proficio Capital Partners LLC bought a new stake in MP Materials during the 4th quarter valued at $399,000. KLP Kapitalforvaltning AS bought a new stake in MP Materials during the 4th quarter valued at $388,000. Invesco Ltd. boosted its position in MP Materials by 0.4% during the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock valued at $33,050,000 after acquiring an additional 7,453 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in MP Materials during the 4th quarter valued at $156,000. Institutional investors own 52.55% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on MP shares. BMO Capital Markets increased their price objective on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a report on Thursday, March 20th. Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $23.00 to $34.00 in a report on Thursday, June 5th. Robert W. Baird increased their price objective 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 increased their price objective on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their price objective on MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $27.44.

Insider Buying and Selling

In other MP Materials 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 transaction of $5,393,794.40. Following the completion of the transaction, the chief executive officer now owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 12.60% of the stock is currently owned by company insiders.

MP Materials Stock Performance

Shares of MP stock opened at $32.85 on Monday. The firm has a market capitalization of $5.37 billion, a price-to-earnings 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. The business has a fifty day moving average of $25.70 and a 200 day moving average of $23.57. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $39.10.

MP Materials (NYSE:MP - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $64.74 million. MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The business's revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) EPS. As a group, research analysts expect that MP Materials Corp. will post -0.19 earnings per share 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.

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