Clearbridge Investments LLC Sells 111,929 Shares of MP Materials Corp. (NYSE:MP)

Clearbridge Investments LLC lowered its stake in MP Materials Corp. (NYSE:MP) by 13.3% during the 4th quarter, Holdings Channel reports. The firm owned 729,863 shares of the company’s stock after selling 111,929 shares during the quarter. Clearbridge Investments LLC’s holdings in MP Materials were worth $11,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in MP Materials in the fourth quarter worth $40,000. Geneos Wealth Management Inc. increased its holdings in shares of MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after buying an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after acquiring an additional 2,200 shares during the last quarter. GAMMA Investing LLC grew its position in MP Materials by 69.3% in the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after acquiring an additional 1,545 shares in the last quarter. Finally, IMG Wealth Management Inc. bought a new stake in MP Materials during the fourth quarter worth approximately $66,000. Institutional investors own 52.55% of the company’s stock.

MP Materials Trading Down 0.1 %

MP stock opened at $25.14 on Thursday. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $27.29. The firm’s 50-day moving average is $24.20 and its 200 day moving average is $20.41. The company has a market capitalization of $4.11 billion, a PE ratio of -42.61 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

MP Materials (NYSE:MP) last posted its quarterly earnings results 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 net margin of 32.09% and a negative return on equity of 8.44%. The company had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. On average, research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. DA Davidson boosted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.61.

Insider Buying and Selling at MP Materials

In related news, CFO Ryan Corbett sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the transaction, the chief financial officer now owns 214,812 shares of the company’s stock, valued at $5,799,924. The trade was a 6.53 % 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 386,223 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total value of $9,273,214.23. Following the sale, the chief executive officer now directly owns 15,643,076 shares in the company, valued at $375,590,254.76. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,130,835 shares of company stock valued at $29,165,987 in the last ninety days. Corporate insiders own 12.60% of the company’s stock.

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.