Teza Capital Management LLC Sells 84,586 Shares of MP Materials Corp. (NYSE:MP)

Teza Capital Management LLC cut its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 70.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,830 shares of the company's stock after selling 84,586 shares during the quarter. Teza Capital Management LLC's holdings in MP Materials were worth $559,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in 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 purchasing an additional 701 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in MP Materials during the fourth quarter worth $40,000. Geneos Wealth Management Inc. boosted its stake in MP Materials by 205.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock worth $43,000 after buying an additional 1,849 shares during the period. Nisa Investment Advisors LLC increased its position in MP Materials by 204.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock valued at $51,000 after acquiring an additional 2,200 shares during the last quarter. Finally, IMG Wealth Management Inc. purchased a new stake in shares of MP Materials in the fourth quarter valued at $66,000. 52.55% of the stock is owned by institutional investors.

MP Materials Stock Performance

MP Materials stock opened at $21.24 on Tuesday. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $29.72. The company has a market capitalization of $3.47 billion, a PE ratio of -36.00 and a beta of 2.24. The company has a 50 day moving average price of $24.41 and a 200-day moving average price of $22.01. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

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

Wall Street Analyst Weigh In

MP has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. BMO Capital Markets raised their price target on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research note on Thursday, March 20th. Finally, DA Davidson upped their price objective on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.61.

Insider Activity at MP Materials

In other news, CFO Ryan Corbett sold 15,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $27.00, for a total transaction of $405,000.00. Following the transaction, the chief financial officer now directly owns 214,812 shares in the company, valued at approximately $5,799,924. This trade represents a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James H. Litinsky sold 489,918 shares of MP Materials stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $26.77, for a total transaction of $13,115,104.86. Following the transaction, the chief executive officer now directly owns 15,153,158 shares in the company, valued at approximately $405,650,039.66. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 943,792 shares of company stock worth $25,286,567 over the last three months. 9.50% of the stock is owned by corporate insiders.

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.

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