QVT Financial LP Has $23.89 Million Stock Position in MP Materials Corp. (NYSE:MP)

QVT Financial LP lowered its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 56.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,531,571 shares of the company's stock after selling 1,962,587 shares during the quarter. MP Materials accounts for 2.1% of QVT Financial LP's investment portfolio, making the stock its 5th largest holding. QVT Financial LP owned 0.94% of MP Materials worth $23,893,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MP. Susquehanna Fundamental Investments LLC purchased a new stake in shares of MP Materials during the 4th quarter worth approximately $3,803,000. Adage Capital Partners GP L.L.C. purchased a new stake in MP Materials in the 4th quarter valued at approximately $2,331,000. Price T Rowe Associates Inc. MD lifted its stake in MP Materials by 44.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock valued at $101,986,000 after buying an additional 2,005,505 shares in the last quarter. Stifel Financial Corp lifted its stake in MP Materials by 7.6% in the 4th quarter. Stifel Financial Corp now owns 202,215 shares of the company's stock valued at $3,155,000 after buying an additional 14,311 shares in the last quarter. Finally, State of Tennessee Department of Treasury lifted its stake in MP Materials by 4,671.2% in the 4th quarter. State of Tennessee Department of Treasury now owns 29,677 shares of the company's stock valued at $463,000 after buying an additional 29,055 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. BMO Capital Markets upped 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. DA Davidson boosted their price target on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $23.61.

MP Materials Stock Down 0.3 %

NYSE:MP traded down $0.08 on Thursday, reaching $24.38. The stock had a trading volume of 1,578,673 shares, compared to its average volume of 3,602,425. 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 company has a 50-day moving average of $24.74 and a 200 day moving average of $21.57. The stock has a market cap of $3.98 billion, a P/E ratio of -41.46 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 posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The firm had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. On average, research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

Insider Activity

In related news, CFO Ryan Corbett sold 60,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the completion of the transaction, the chief financial officer now directly owns 230,100 shares in the company, valued at $5,869,851. This represents a 20.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James H. Litinsky sold 386,223 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total value of $9,273,214.23. Following the transaction, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,330,015 shares of company stock worth $34,559,781. 12.60% of the stock is currently owned by insiders.

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.