MP Materials Corp. (NYSE:MP) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC cut its stake in MP Materials Corp. (NYSE:MP) by 96.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,294 shares of the company’s stock after selling 68,166 shares during the quarter. MetLife Investment Management LLC’s holdings in MP Materials were worth $40,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MP. CWM LLC lifted its holdings in MP Materials by 425.5% in the second quarter. CWM LLC now owns 9,827 shares of the company’s stock valued at $125,000 after acquiring an additional 7,957 shares during the period. SG Americas Securities LLC acquired a new position in MP Materials in the second quarter valued at approximately $194,000. Great Valley Advisor Group Inc. increased its position in shares of MP Materials by 6.9% in the second quarter. Great Valley Advisor Group Inc. now owns 81,297 shares of the company’s stock valued at $1,035,000 after buying an additional 5,249 shares in the last quarter. 180 Wealth Advisors LLC increased its position in shares of MP Materials by 7.8% in the second quarter. 180 Wealth Advisors LLC now owns 61,210 shares of the company’s stock valued at $779,000 after buying an additional 4,420 shares in the last quarter. Finally, Archford Capital Strategies LLC increased its position in shares of MP Materials by 19.4% in the second quarter. Archford Capital Strategies LLC now owns 16,274 shares of the company’s stock valued at $207,000 after buying an additional 2,639 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MP Materials

In other MP Materials news, 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 value of $5,535,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,221,776 shares of the company’s stock, valued at $336,191,767.20. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ryan Corbett sold 15,195 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.30, for a total value of $278,068.50. Following the completion of the sale, the chief financial officer now directly owns 295,021 shares of the company’s stock, valued at $5,398,884.30. This trade represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 884,862 shares of company stock valued at $17,484,482. 12.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on MP shares. DA Davidson boosted their price objective on MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Robert W. Baird boosted their price objective on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. boosted their price objective on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. BMO Capital Markets boosted their price objective on MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a research report on Friday, October 25th. Finally, Morgan Stanley boosted their price objective on MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.10.

MP Materials Stock Down 4.6 %

NYSE MP opened at $19.57 on Wednesday. The business has a fifty day moving average price of $18.92 and a 200 day moving average price of $15.65. MP Materials Corp. has a one year low of $10.02 and a one year high of $24.01. 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 company has a market cap of $3.19 billion, a P/E ratio of -38.00 and a beta of 2.24.

MP Materials announced that its Board of Directors has initiated a share repurchase program on Tuesday, September 3rd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.