Sciencast Management LP Buys New Shares in MP Materials Corp. (NYSE:MP)

Sciencast Management LP bought a new stake in shares of MP Materials Corp. (NYSE:MP) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 15,470 shares of the company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MP. Thrivent Financial for Lutherans increased its holdings in MP Materials by 197.0% in the 3rd 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 period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in MP Materials by 13.3% in the 3rd 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 period. Great Valley Advisor Group Inc. increased its holdings in MP Materials by 26.9% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 103,155 shares of the company’s stock valued at $1,821,000 after buying an additional 21,858 shares during the period. Cerity Partners LLC increased its holdings in MP Materials by 160.1% in the 3rd quarter. Cerity Partners LLC now owns 30,762 shares of the company’s stock valued at $543,000 after buying an additional 18,934 shares during the period. Finally, Pekin Hardy Strauss Inc. increased its holdings in MP Materials by 0.4% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company’s stock valued at $4,509,000 after buying an additional 1,135 shares during the period. Institutional investors own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction that occurred 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 transaction, the chief financial officer now owns 230,100 shares of the company’s stock, valued at $5,869,851. This trade represents a 20.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the transaction, the chief executive officer now directly owns 15,643,076 shares in the company, valued at $375,590,254.76. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,112,316 shares of company stock worth $28,665,974 in the last quarter. 12.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. DA Davidson boosted their price target on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. 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. Finally, BMO Capital Markets upped their target price on shares of MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.61.

MP Materials Trading Down 1.7 %

MP opened at $25.81 on Monday. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $27.29. The firm has a 50-day moving average price of $23.36 and a two-hundred day moving average price of $19.78. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $4.22 billion, a PE ratio of -43.75 and a beta of 2.32.

MP Materials (NYSE:MP) last issued 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 return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. As a group, equities analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

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.