Brown Lisle Cummings Inc. Sells 1,600 Shares of MP Materials Corp. (NYSE:MP)

Brown Lisle Cummings Inc. cut its position in shares of MP Materials Corp. (NYSE:MP) by 21.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,000 shares of the company’s stock after selling 1,600 shares during the period. Brown Lisle Cummings Inc.’s holdings in MP Materials were worth $94,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MP. Millennium Management LLC increased its holdings in MP Materials by 425.5% in the 2nd quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock valued at $10,201,000 after buying an additional 648,838 shares during the period. Segall Bryant & Hamill LLC increased its stake in MP Materials by 32.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after acquiring an additional 306,933 shares during the period. Public Sector Pension Investment Board bought a new stake in MP Materials in the third quarter valued at about $4,584,000. Bernzott Capital Advisors raised its position in MP Materials by 43.4% in the third quarter. Bernzott Capital Advisors now owns 689,270 shares of the company’s stock worth $12,166,000 after purchasing an additional 208,586 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in MP Materials by 35.7% during the third quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after purchasing an additional 159,200 shares during the period. 52.55% of the stock is owned by institutional investors.

Insider Activity at MP Materials

In related news, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the sale, the chief financial officer now owns 260,021 shares in the company, valued at $5,590,451.50. This represents a 11.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $18.45, for a total value of $5,535,000.00. Following the transaction, the chief executive officer now owns 18,221,776 shares in the company, valued at approximately $336,191,767.20. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 884,862 shares of company stock worth $17,484,482. 12.60% of the stock is owned by insiders.

MP Materials Stock Performance

MP Materials stock opened at $24.52 on Wednesday. The company has a market cap of $4.00 billion, a PE ratio of -45.40 and a beta of 2.34. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $24.78. The company’s 50-day moving average is $19.54 and its two-hundred day moving average is $17.01.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The business had revenue of $62.93 million during the quarter, compared to the consensus estimate of $45.30 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. During the same period in the previous year, the business posted $0.02 earnings per share. Equities analysts anticipate that MP Materials Corp. will post -0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MP shares. JPMorgan Chase & Co. increased their target price on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. BMO Capital Markets lifted their price objective on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Finally, Canaccord Genuity Group upped their target price 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 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 stock presently has an average rating of “Moderate Buy” and a consensus price target 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.