Price T Rowe Associates Inc. MD Boosts Stock Position in MP Materials Corp. (NYSE:MP)

Price T Rowe Associates Inc. MD lifted its stake in MP Materials Corp. (NYSE:MP - Free Report) by 44.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,537,511 shares of the company's stock after purchasing an additional 2,005,505 shares during the period. Price T Rowe Associates Inc. MD owned 4.01% of MP Materials worth $101,986,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tidal Investments LLC lifted its position in MP Materials by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 72,826 shares of the company's stock valued at $1,285,000 after acquiring an additional 23,441 shares during the period. Principal Financial Group Inc. raised its position in shares of MP Materials by 35.7% in the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company's stock worth $10,676,000 after purchasing an additional 159,200 shares during the last quarter. GAMMA Investing LLC grew its position 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 purchasing an additional 1,545 shares during the last quarter. Wedmont Private Capital bought a new stake in MP Materials during the 4th quarter valued at about $159,000. Finally, Miracle Mile Advisors LLC lifted its stake in shares of MP Materials by 12.4% in the fourth quarter. Miracle Mile Advisors LLC now owns 15,900 shares of the company's stock worth $248,000 after buying an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

MP Materials Stock Performance

Shares of MP stock traded down $0.12 during trading hours on Thursday, reaching $24.34. 3,318,451 shares of the company traded hands, compared to its average volume of 3,608,967. The firm has a 50-day moving average price of $24.74 and a 200 day moving average price of $21.57. The company has a market cap of $3.98 billion, a P/E ratio of -41.25 and a beta of 2.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. 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 issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The firm had revenue of $60.99 million for 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%. As a group, sell-side analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BMO Capital Markets boosted their price objective 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 report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of MP Materials from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.94.

Insider Buying and Selling

In other MP Materials news, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the sale, the chief executive officer now directly owns 15,643,076 shares of the company's stock, valued at $375,590,254.76. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ryan Corbett sold 15,000 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,812 shares in the company, valued at $5,799,924. This trade represents a 6.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,330,015 shares of company stock valued at $34,559,781. Company 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.