MP Materials Corp. (NYSE:MP) Stock Position Raised by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC boosted its position in shares of MP Materials Corp. (NYSE:MP) by 7.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,167 shares of the company’s stock after purchasing an additional 5,123 shares during the period. OneDigital Investment Advisors LLC’s holdings in MP Materials were worth $1,238,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of MP Materials by 136.0% during the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after buying an additional 1,285 shares in the last quarter. Signaturefd LLC grew its stake in MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after acquiring an additional 3,262 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of MP Materials by 3,803.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock valued at $52,000 after purchasing an additional 3,956 shares during the period. KBC Group NV lifted its position in shares of MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after purchasing an additional 1,246 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of MP Materials during the second quarter worth approximately $72,000. 52.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Ryan Corbett sold 15,195 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.30, for a total transaction of $278,068.50. Following the completion of the transaction, the chief financial officer now directly owns 295,021 shares in the company, valued at $5,398,884.30. This represents a 4.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James H. Litinsky sold 300,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the sale, the chief executive officer now owns 18,221,776 shares in the company, valued at $336,191,767.20. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.60% of the stock is owned by insiders.

MP Materials Stock Up 0.4 %

Shares of MP Materials stock opened at $18.36 on Tuesday. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $20.85. The stock has a market capitalization of $3.04 billion, a P/E ratio of -33.99 and a beta of 2.23. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average price of $17.35 and a two-hundred day moving average price of $15.30.

MP Materials announced that its board has authorized a share repurchase program on Tuesday, September 3rd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MP. JPMorgan Chase & Co. increased their target price on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Canaccord Genuity Group cut their price objective on MP Materials from $20.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of MP Materials in a research note on Friday, August 2nd. Morgan Stanley raised their price target on MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Finally, BMO Capital Markets boosted their price target on MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.40.

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.