8,953 Shares in MP Materials Corp. (NYSE:MP) Bought by SG Americas Securities LLC

SG Americas Securities LLC purchased a new stake in MP Materials Corp. (NYSE:MPGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,953 shares of the company’s stock, valued at approximately $513,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Trust Advisors LP lifted its position in MP Materials by 18.2% in the fourth quarter. First Trust Advisors LP now owns 1,649,046 shares of the company’s stock valued at $74,900,000 after acquiring an additional 253,712 shares during the last quarter. Geode Capital Management LLC lifted its position in MP Materials by 17.1% in the fourth quarter. Geode Capital Management LLC now owns 1,325,011 shares of the company’s stock valued at $60,181,000 after acquiring an additional 193,078 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in MP Materials by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 734,440 shares of the company’s stock valued at $33,359,000 after acquiring an additional 20,937 shares during the last quarter. Northern Trust Corp raised its holdings in shares of MP Materials by 1.7% in the fourth quarter. Northern Trust Corp now owns 719,981 shares of the company’s stock valued at $32,702,000 after buying an additional 11,974 shares during the last quarter. Finally, Hartline Investment Corp raised its holdings in shares of MP Materials by 11.7% in the fourth quarter. Hartline Investment Corp now owns 480,852 shares of the company’s stock valued at $21,840,000 after buying an additional 50,443 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Randall J. Weisenburger bought 30,000 shares of the stock in a transaction on Thursday, June 16th. The shares were bought at an average cost of $33.25 per share, for a total transaction of $997,500.00. Following the completion of the transaction, the director now owns 146,901 shares of the company’s stock, valued at approximately $4,884,458.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other MP Materials news, Director Randall J. Weisenburger purchased 30,000 shares of the stock in a transaction dated Thursday, June 16th. The shares were acquired at an average cost of $33.25 per share, for a total transaction of $997,500.00. Following the completion of the transaction, the director now directly owns 146,901 shares of the company’s stock, valued at $4,884,458.25. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ryan Corbett sold 5,400 shares of the stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $40.00, for a total transaction of $216,000.00. Following the completion of the sale, the chief financial officer now owns 225,098 shares in the company, valued at $9,003,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 535,289 shares of company stock worth $21,550,078. 49.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of MP Materials in a report on Tuesday, May 31st. They issued an “outperform” rating and a $50.00 target price for the company. Canaccord Genuity Group assumed coverage on shares of MP Materials in a report on Wednesday, July 13th. They issued a “buy” rating and a $44.00 target price for the company. Morgan Stanley increased their price target on shares of MP Materials from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, June 7th. Northland Securities reissued an “outperform” rating and set a $60.00 price target on shares of MP Materials in a report on Monday, June 6th. Finally, Canaccord Genuity Group assumed coverage on shares of MP Materials in a report on Wednesday, July 13th. They set a “buy” rating for the company. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $49.57.

MP Materials Trading Up 1.1 %

Shares of MP opened at $35.06 on Friday. The company has a current ratio of 25.52, a quick ratio of 24.76 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average is $33.79 and its two-hundred day moving average is $39.99. MP Materials Corp. has a twelve month low of $27.48 and a twelve month high of $60.19. The firm has a market capitalization of $6.22 billion, a P/E ratio of 32.17, a PEG ratio of 1.65 and a beta of 2.93.

MP Materials (NYSE:MPGet Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.10. MP Materials had a net margin of 46.66% and a return on equity of 21.91%. The company had revenue of $143.50 million for the quarter, compared to analyst estimates of $128.75 million. During the same period in the prior year, the business posted $0.15 earnings per share. The firm’s revenue for the quarter was up 96.3% compared to the same quarter last year. On average, research analysts predict that MP Materials Corp. will post 1.32 earnings per share for the current fiscal year.

About MP Materials

(Get Rating)

MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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.

See Also

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Institutional Ownership by Quarter for MP Materials (NYSE:MP)

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