MP Materials Corp. (NYSE:MP) Shares Purchased by CoreCommodity Management LLC

CoreCommodity Management LLC increased its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 132.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,570 shares of the company's stock after purchasing an additional 20,858 shares during the period. CoreCommodity Management LLC's holdings in MP Materials were worth $570,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of MP. Price T Rowe Associates Inc. MD raised its stake 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 valued at $101,986,000 after purchasing an additional 2,005,505 shares during the period. Victory Capital Management Inc. lifted its holdings in MP Materials by 3.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company's stock worth $37,945,000 after buying an additional 73,297 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in MP Materials by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company's stock worth $34,433,000 after buying an additional 176,121 shares in the last quarter. Invesco Ltd. boosted its position in MP Materials by 0.4% in 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, Charles Schwab Investment Management Inc. grew its stake in shares of MP Materials by 15.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company's stock valued at $16,843,000 after acquiring an additional 144,661 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

Insider Activity at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 13,643,076 shares of the company's stock, valued at approximately $369,454,498.08. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 60,000 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 230,100 shares of the company's stock, valued at $5,869,851. This represents a 20.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 943,792 shares of company stock worth $25,286,567 in the last three months. 12.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

MP has been the topic of several recent analyst reports. DA Davidson boosted their price target on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. BMO Capital Markets increased 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. dropped their price target on shares of MP Materials from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.94.

MP Materials Stock Down 2.2 %

Shares of NYSE:MP opened at $24.65 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The company's fifty day moving average is $24.82 and its two-hundred day moving average is $21.78. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $29.72. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of -41.78 and a beta of 2.24.

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

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.

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