Larson Financial Group LLC Has $143,000 Stake in MP Materials Corp. (NYSE:MP)

Larson Financial Group LLC trimmed its position in MP Materials Corp. (NYSE:MP) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,991 shares of the company’s stock after selling 698 shares during the quarter. Larson Financial Group LLC’s holdings in MP Materials were worth $143,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MP. Retirement Systems of Alabama raised its stake in MP Materials by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 180,391 shares of the company’s stock worth $3,581,000 after acquiring an additional 723 shares in the last quarter. CWM LLC raised its stake in MP Materials by 85.0% during the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after acquiring an additional 766 shares in the last quarter. Amalgamated Bank raised its stake in MP Materials by 1.0% during the fourth quarter. Amalgamated Bank now owns 84,408 shares of the company’s stock worth $1,675,000 after acquiring an additional 798 shares in the last quarter. State of Michigan Retirement System raised its stake in MP Materials by 2.3% during the first quarter. State of Michigan Retirement System now owns 35,400 shares of the company’s stock worth $506,000 after acquiring an additional 800 shares in the last quarter. Finally, Mirador Capital Partners LP raised its stake in MP Materials by 5.3% during the fourth quarter. Mirador Capital Partners LP now owns 17,142 shares of the company’s stock worth $340,000 after acquiring an additional 863 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the transaction, the chief financial officer now owns 325,021 shares of the company’s stock, valued at approximately $5,502,605.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MP Materials news, Director Andrew A. Mcknight sold 317,750 shares of MP Materials stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.07, for a total value of $5,741,742.50. Following the completion of the transaction, the director now directly owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ryan Corbett sold 50,000 shares of MP Materials stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the transaction, the chief financial officer now directly owns 325,021 shares of the company’s stock, valued at $5,502,605.53. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.

MP Materials Price Performance

Shares of NYSE MP traded up $0.10 during mid-day trading on Wednesday, reaching $14.34. 1,763,692 shares of the company’s stock were exchanged, compared to its average volume of 3,401,606. The company has a current ratio of 10.29, a quick ratio of 9.28 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $15.27 and a 200 day simple moving average of $15.86. MP Materials Corp. has a twelve month low of $12.09 and a twelve month high of $26.53.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. The firm had revenue of $48.68 million during the quarter, compared to analyst estimates of $46.00 million. As a group, equities research analysts expect that MP Materials Corp. will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Benchmark restated a “buy” rating and set a $30.00 target price on shares of MP Materials in a report on Tuesday, May 14th. Morgan Stanley decreased their target price on MP Materials from $15.50 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Jefferies Financial Group decreased their target price on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft decreased their target price on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Finally, Canaccord Genuity Group decreased their target price on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, MP Materials has an average rating of “Moderate Buy” and a consensus target price of $23.50.

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.