MP Materials Corp. (NYSE:MP) Shares Acquired by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury boosted its stake in MP Materials Corp. (NYSE:MP - Free Report) by 4,671.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 29,677 shares of the company's stock after acquiring an additional 29,055 shares during the quarter. State of Tennessee Department of Treasury's holdings in MP Materials were worth $463,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MP. Quadrant Capital Group LLC boosted 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 worth $38,000 after acquiring an additional 701 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of MP Materials during the fourth quarter worth $40,000. Geneos Wealth Management Inc. raised its position in shares of MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock valued at $43,000 after buying an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock worth $51,000 after buying an additional 2,200 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in MP Materials by 69.3% during the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company's stock valued at $59,000 after acquiring an additional 1,545 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

Wall Street Analyst Weigh In

MP has been the topic of a number of research reports. 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 research note on Thursday, March 20th. DA Davidson boosted their price objective on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reduced their price target on MP Materials from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, MP Materials currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.94.

MP Materials Stock Up 2.8 %

Shares of MP opened at $25.01 on Friday. The company's 50-day moving average price is $24.77 and its 200 day moving average price is $21.69. MP Materials Corp. has a 12-month low of $10.02 and a 12-month 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 firm has a market cap of $4.09 billion, a P/E ratio of -42.39 and a beta of 2.24.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). The company had revenue of $60.99 million during the quarter, compared to analysts' expectations of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. On average, sell-side analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 199,180 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $369,454,498.08. This represents a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction dated 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 transaction, the chief financial officer now directly owns 214,812 shares of the company's stock, valued at approximately $5,799,924. This represents a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,330,015 shares of company stock worth $34,559,781 over the last ninety days. Corporate insiders own 12.60% of the company's stock.

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.

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