MP Materials Corp. (NYSE:MP) Stake Decreased by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC cut its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 596,081 shares of the company's stock after selling 119,690 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.37% of MP Materials worth $9,299,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of MP Materials by 44.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock worth $101,986,000 after purchasing an additional 2,005,505 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of MP Materials during the fourth quarter worth $14,886,000. Raymond James Financial Inc. purchased a new stake in shares of MP Materials in the fourth quarter valued at about $6,284,000. HITE Hedge Asset Management LLC purchased a new stake in MP Materials in the 4th quarter valued at approximately $6,019,000. Finally, Marshall Wace LLP acquired a new position in MP Materials during the fourth quarter worth $5,330,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MP shares. DA Davidson raised their price objective on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, March 19th. BMO Capital Markets upped 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, JPMorgan Chase & Co. decreased their price target on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.61.

MP Materials Stock Down 1.7%

NYSE:MP traded down $0.36 during trading hours on Tuesday, hitting $20.78. The stock had a trading volume of 6,718,496 shares, compared to its average volume of 3,706,411. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $29.72. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The company has a market cap of $3.40 billion, a PE ratio of -35.22 and a beta of 2.24. The business has a 50 day simple moving average of $24.74 and a two-hundred day simple moving average of $21.92.

MP Materials (NYSE:MP - Get Free Report) last released 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 return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.81 million during the quarter, compared to analyst estimates of $64.74 million. During the same quarter last year, the firm posted ($0.04) EPS. The company's revenue was up 24.9% compared to the same quarter last year. Analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Buying and Selling

In other MP Materials news, CEO James H. Litinsky sold 489,918 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer now owns 15,153,158 shares in the company, valued at $405,650,039.66. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ryan Corbett sold 15,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,812 shares in the company, valued at $5,799,924. This represents a 6.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 943,792 shares of company stock worth $25,286,567. Insiders own 9.50% of the company's stock.

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.