Jones Financial Companies Lllp Reduces Position in MP Materials Corp. (NYSE:MP)

Jones Financial Companies Lllp lessened its holdings in shares of MP Materials Corp. (NYSE:MP) by 7.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,191 shares of the company’s stock after selling 445 shares during the quarter. Jones Financial Companies Lllp’s holdings in MP Materials were worth $81,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MP. Janney Montgomery Scott LLC raised its stake in shares of MP Materials by 6.5% during the third quarter. Janney Montgomery Scott LLC now owns 51,601 shares of the company’s stock valued at $911,000 after acquiring an additional 3,149 shares in the last quarter. Principal Financial Group Inc. raised its stake in MP Materials by 35.7% in the third quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after buying an additional 159,200 shares in the last quarter. KBC Group NV raised its stake in 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 buying an additional 1,246 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in MP Materials by 7.9% in the third quarter. OneDigital Investment Advisors LLC now owns 70,167 shares of the company’s stock worth $1,238,000 after buying an additional 5,123 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in MP Materials by 197.0% in the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock worth $1,696,000 after purchasing an additional 63,751 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 386,223 shares of the company’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 transaction, the chief executive officer now owns 15,643,076 shares in the company, valued at $375,590,254.76. This represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.60% of the company’s stock.

MP Materials Price Performance

Shares of MP opened at $26.93 on Monday. The firm has a market capitalization of $4.40 billion, a PE ratio of -45.65 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $26.95. The company’s fifty day moving average price is $22.71 and its 200-day moving average price is $19.31.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The business had revenue of $60.99 million during the quarter, compared to analysts’ expectations of $50.71 million. On average, equities research analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Canaccord Genuity Group lifted their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.45.

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.