Tower Research Capital LLC TRC Has $123,000 Position in MP Materials Corp. (NYSE:MP)

Tower Research Capital LLC TRC decreased its holdings in MP Materials Corp. (NYSE:MP - Free Report) by 75.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,876 shares of the company's stock after selling 24,587 shares during the period. Tower Research Capital LLC TRC's holdings in MP Materials were worth $123,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in 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 buying an additional 701 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in MP Materials in the fourth quarter worth approximately $40,000. Geneos Wealth Management Inc. increased its holdings in MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock worth $43,000 after buying an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in 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 during the last quarter. Finally, GAMMA Investing LLC increased its holdings in MP Materials by 69.3% in the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company's stock worth $59,000 after buying an additional 1,545 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday. DA Davidson upped their target price on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Finally, BMO Capital Markets upped their target price on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.61.

Insider Activity

In related news, CEO James H. Litinsky sold 489,918 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $26.77, for a total value of $13,115,104.86. Following the completion of the transaction, the chief executive officer now directly owns 15,153,158 shares of the company's stock, valued at $405,650,039.66. This trade represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ryan Corbett sold 15,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was 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 trade represents a 6.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 943,792 shares of company stock valued at $25,286,567. 9.50% of the stock is owned by company insiders.

MP Materials Stock Performance

Shares of MP traded down $0.86 during mid-day trading on Monday, hitting $21.09. The company's stock had a trading volume of 8,726,656 shares, compared to its average volume of 3,693,673. MP Materials Corp. has a one year low of $10.02 and a one year high of $29.72. 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 firm has a market capitalization of $3.45 billion, a PE ratio of -35.75 and a beta of 2.24. The stock's 50-day moving average is $24.83 and its two-hundred day moving average is $21.90.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The business had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. During the same period in the prior year, the company posted ($0.04) earnings per share. The firm's revenue was up 24.9% compared to the same quarter last year. As a group, sell-side 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.