State of Alaska Department of Revenue Sells 1,200 Shares of MP Materials Corp. (NYSE:MP)

State of Alaska Department of Revenue cut its stake in shares of MP Materials Corp. (NYSE:MP) by 1.7% during the 4th quarter, Holdings Channel reports. The fund owned 68,638 shares of the company’s stock after selling 1,200 shares during the period. State of Alaska Department of Revenue’s holdings in MP Materials were worth $1,070,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Captrust Financial Advisors boosted its stake in MP Materials by 5.0% during the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock worth $207,000 after acquiring an additional 557 shares in the last quarter. Cutter & CO Brokerage Inc. lifted its stake in shares of MP Materials by 0.5% in the third quarter. Cutter & CO Brokerage Inc. now owns 190,098 shares of the company’s stock valued at $3,355,000 after buying an additional 910 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its stake in shares of MP Materials by 0.4% in the third quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company’s stock valued at $4,509,000 after buying an additional 1,135 shares in the last quarter. KBC Group NV lifted its stake 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 valued at $84,000 after buying an additional 1,246 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of MP Materials by 136.0% in 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. 52.55% of the stock is owned by institutional investors.

Insider Activity at MP Materials

In related news, CEO James H. Litinsky sold 386,223 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the sale, the chief executive officer now owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ryan Corbett sold 35,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.50, for a total transaction of $752,500.00. Following the sale, the chief financial officer now owns 260,021 shares of the company’s stock, valued at $5,590,451.50. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,271,085 shares of company stock valued at $26,757,696 over the last ninety days. Corporate insiders own 12.60% of the company’s stock.

MP Materials Stock Up 0.7 %

MP opened at $24.31 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The company’s 50-day moving average is $19.99 and its 200 day moving average is $17.47. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $26.00. The firm has a market capitalization of $3.97 billion, a P/E ratio of -45.02 and a beta of 2.34.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MP. JPMorgan Chase & Co. raised their price objective on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Canaccord Genuity Group raised their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, BMO Capital Markets raised their price objective on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.45.

MP Materials Company 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.