Raymond James Financial Inc. Buys New Holdings in MP Materials Corp. (NYSE:MP)

Raymond James Financial Inc. purchased a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 402,818 shares of the company's stock, valued at approximately $6,284,000. Raymond James Financial Inc. owned about 0.25% of MP Materials at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Tidal Investments LLC boosted its stake 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 purchasing an additional 23,441 shares during the period. Principal Financial Group Inc. raised its stake in MP Materials by 35.7% during the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company's stock valued at $10,676,000 after acquiring an additional 159,200 shares in the last quarter. GAMMA Investing LLC boosted 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 worth $59,000 after acquiring an additional 1,545 shares during the period. Wedmont Private Capital acquired a new position in shares of MP Materials during the fourth quarter valued at $159,000. Finally, Miracle Mile Advisors LLC raised its stake in shares of MP Materials by 12.4% during the fourth quarter. Miracle Mile Advisors LLC now owns 15,900 shares of the company's stock valued at $248,000 after purchasing an additional 1,750 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

MP Materials Price Performance

MP Materials stock traded down $0.08 during mid-day trading on Wednesday, hitting $24.50. The company's stock had a trading volume of 5,900,779 shares, compared to its average volume of 3,610,113. The stock has a market capitalization of $4.00 billion, a P/E ratio of -41.53 and a beta of 2.24. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $29.72. The stock's fifty day moving average price is $24.74 and its two-hundred day moving average price is $21.57. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

MP Materials (NYSE:MP - Get Free Report) last issued its 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 analyst estimates of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. Research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MP shares. BMO Capital Markets increased their target price on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research report on Thursday, March 20th. DA Davidson increased their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.61.

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was 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 owns 230,100 shares in the company, valued at $5,869,851. The trade was a 20.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 15,643,076 shares in the company, valued at $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. Over the last three months, insiders sold 1,330,015 shares of company stock worth $34,559,781. 12.60% of the stock is owned by company 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.