Marshall Wace LLP bought a new position in MP Materials Corp. (NYSE:MP - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 341,636 shares of the company's stock, valued at approximately $5,330,000. Marshall Wace LLP owned 0.21% of MP Materials as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. Barclays PLC lifted its stake in shares of MP Materials by 150.2% in the 4th quarter. Barclays PLC now owns 121,392 shares of the company's stock valued at $1,895,000 after acquiring an additional 72,868 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of MP Materials by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 7,852 shares of the company's stock valued at $122,000 after purchasing an additional 2,858 shares during the period. Raymond James Financial Inc. purchased a new position in shares of MP Materials in the fourth quarter worth $6,284,000. Invesco Ltd. raised its holdings 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 buying an additional 7,453 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in MP Materials by 40.3% during the 4th 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 period. 52.55% of the stock is owned by institutional investors.
Insider Transactions at MP Materials
In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the completion of the transaction, the chief financial officer now owns 230,100 shares in the company, valued at $5,869,851. This trade represents a 20.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James H. Litinsky sold 489,918 shares of the company'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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 1,330,015 shares of company stock worth $34,559,781 in the last three months. Corporate insiders own 12.60% of the company's stock.
MP Materials Stock Down 3.9 %
MP stock traded down $0.97 during trading on Tuesday, hitting $23.88. 1,367,805 shares of the stock traded hands, compared to its average volume of 3,577,162. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of -40.51 and a beta of 2.24. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $29.72. The firm's 50 day moving average is $24.71 and its two-hundred day moving average is $21.53.
MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The company had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. On average, sell-side analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. BMO Capital Markets increased their target price on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday, March 20th. DA Davidson lifted their price objective on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, MP Materials presently has an average rating of "Moderate Buy" and a consensus price target of $23.61.
Read Our Latest Stock Report on MP Materials
About MP Materials
(
Free Report)
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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