MP Materials Corp. (NYSE:MP) Holdings Cut by AlphaQuest LLC

AlphaQuest LLC lowered its holdings in MP Materials Corp. (NYSE:MP) by 91.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,772 shares of the company’s stock after selling 39,172 shares during the period. AlphaQuest LLC’s holdings in MP Materials were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MP. KBC Group NV raised its holdings in shares of MP Materials by 35.7% during 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 during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of MP Materials by 197.0% during the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock valued at $1,696,000 after buying an additional 63,751 shares during the last quarter. Quest Partners LLC raised its holdings in shares of MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after buying an additional 38,204 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of MP Materials by 13.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 505,532 shares of the company’s stock valued at $8,923,000 after buying an additional 59,469 shares during the last quarter. Finally, Great Valley Advisor Group Inc. raised its holdings in MP Materials by 26.9% during the third quarter. Great Valley Advisor Group Inc. now owns 103,155 shares of the company’s stock worth $1,821,000 after purchasing an additional 21,858 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

MP Materials Trading Down 2.2 %

MP Materials stock opened at $26.22 on Friday. 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 cap of $4.29 billion, a price-to-earnings ratio of -44.44 and a beta of 2.32. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $27.29. The firm’s 50 day moving average price is $23.24 and its two-hundred day moving average price is $19.60.

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

Insider Activity

In related news, CEO James H. Litinsky sold 161,175 shares of MP Materials stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $4,342,054.50. Following the completion of the sale, the chief executive officer now owns 14,352,689 shares of the company’s stock, valued at approximately $386,661,441.66. The trade was a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the completion of the sale, the chief financial officer now directly owns 230,100 shares of the company’s stock, valued at approximately $5,869,851. The trade was a 20.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,112,316 shares of company stock worth $28,665,974 in the last ninety days. Corporate insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

MP has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their target price on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. BMO Capital Markets boosted their target price on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, DA Davidson boosted their target price on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, MP Materials presently has a consensus rating of “Moderate Buy” and an average price target of $23.61.

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.