MP Materials Corp. (NYSE:MP) Shares Acquired by Northern Trust Corp

Northern Trust Corp boosted its stake in MP Materials Corp. (NYSE:MP - Free Report) by 23.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 978,284 shares of the company's stock after buying an additional 186,748 shares during the quarter. Northern Trust Corp owned approximately 0.60% of MP Materials worth $15,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MP. Raymond James Financial Inc. purchased a new position in MP Materials during the fourth quarter worth about $6,284,000. Proficio Capital Partners LLC acquired a new stake in MP Materials in the 4th quarter valued at about $399,000. Oak Family Advisors LLC acquired a new position in MP Materials during the fourth quarter valued at approximately $530,000. KLP Kapitalforvaltning AS acquired a new position in MP Materials during the fourth quarter valued at approximately $388,000. Finally, SG Americas Securities LLC grew its holdings in MP Materials by 167.3% during the fourth quarter. SG Americas Securities LLC now owns 35,902 shares of the company's stock valued at $560,000 after purchasing an additional 22,473 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Price Performance

MP stock traded down $0.24 during midday trading on Tuesday, hitting $21.01. The company's stock had a trading volume of 311,376 shares, compared to its average volume of 3,697,334. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $29.72. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -35.69 and a beta of 2.24. The company has a 50 day moving average of $24.41 and a two-hundred day moving average of $22.01.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $60.81 million for the quarter, compared to analysts' expectations of $64.74 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The business's quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) EPS. On average, analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ryan Corbett sold 15,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now 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. In the last 90 days, insiders have sold 943,792 shares of company stock valued at $25,286,567. 9.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. DA Davidson raised their target price on shares of 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. dropped their price objective on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. Finally, BMO Capital Markets raised 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. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $23.61.

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.