MP Materials Corp. (NYSE:MP) Shares Acquired by Cladis Investment Advisory LLC

Cladis Investment Advisory LLC raised its position in shares of MP Materials Corp. (NYSE:MP) by 4.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 82,090 shares of the company’s stock after purchasing an additional 3,550 shares during the quarter. Cladis Investment Advisory LLC’s holdings in MP Materials were worth $1,449,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Comerica Bank lifted its position in shares of MP Materials by 16.7% in the 1st quarter. Comerica Bank now owns 71,564 shares of the company’s stock worth $1,023,000 after buying an additional 10,264 shares during the last quarter. Virtu Financial LLC acquired a new position in MP Materials in the first quarter valued at approximately $356,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of MP Materials by 12.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 47,179 shares of the company’s stock valued at $675,000 after purchasing an additional 5,200 shares during the last quarter. CWM LLC grew its holdings in shares of MP Materials by 425.5% during the second quarter. CWM LLC now owns 9,827 shares of the company’s stock valued at $125,000 after purchasing an additional 7,957 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of MP Materials in the 2nd quarter worth approximately $194,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on MP shares. Canaccord Genuity Group upped their price objective on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. upped their price target on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. DA Davidson lifted their price objective on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Finally, Morgan Stanley lifted their price target on MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.

MP Materials Stock Up 1.1 %

MP opened at $21.07 on Monday. 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 capitalization of $3.44 billion, a PE ratio of -39.02 and a beta of 2.23. The stock’s fifty day moving average is $18.41 and its 200-day moving average is $15.51. MP Materials Corp. has a one year low of $10.02 and a one year high of $21.70.

MP Materials declared that its board has authorized a stock repurchase program on Tuesday, September 3rd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 13.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Ryan Corbett sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the sale, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $5,590,451.50. This trade represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James H. Litinsky sold 300,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total value of $6,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,043,076 shares in the company, valued at $364,830,996.72. This represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 650,195 shares of company stock valued at $12,631,569 over the last three months. Company insiders own 12.60% of the company’s stock.

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.