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% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 978,284 shares of the company's stock after purchasing an additional 186,748 shares during the period. Northern Trust Corp owned about 0.60% of MP Materials worth $15,261,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MP. Quadrant Capital Group LLC grew its stake in shares of MP Materials by 40.3% in the fourth 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 in the last quarter. SBI Securities Co. Ltd. acquired a new position in MP Materials in the 4th quarter valued at about $40,000. Geneos Wealth Management Inc. grew its position in MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock valued at $43,000 after acquiring an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC grew its position in MP Materials by 204.7% in the 4th 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 in the last quarter. Finally, IMG Wealth Management Inc. acquired a new position in MP Materials in the 4th quarter valued at about $66,000. Institutional investors and hedge funds own 52.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MP. JPMorgan Chase & Co. dropped their price objective on shares of MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Monday. BMO Capital Markets boosted their price target on shares of 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 stock a "buy" rating in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.61.

MP Materials Stock Performance

Shares of MP stock opened at $20.88 on Thursday. 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 firm has a fifty day moving average price of $24.59 and a 200 day moving average price of $21.91. The company has a market cap of $3.41 billion, a P/E ratio of -35.39 and a beta of 2.24. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $29.72.

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

Insider Activity at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.51, for a total value 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 represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 199,180 shares of the company's stock in a transaction on Monday, April 14th. The shares were 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 of the company's stock, valued at $369,454,498.08. This represents a 1.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 943,792 shares of company stock valued at $25,286,567 over the last three months. 12.60% 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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