Cibc World Market Inc. Has $286,000 Stake in MP Materials Corp. (NYSE:MP)

Cibc World Market Inc. trimmed its position in shares of MP Materials Corp. (NYSE:MPGet Rating) by 8.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,910 shares of the company’s stock after selling 813 shares during the quarter. Cibc World Market Inc.’s holdings in MP Materials were worth $286,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MP. State Street Corp raised its position in shares of MP Materials by 56.2% during the first quarter. State Street Corp now owns 4,806,550 shares of the company’s stock worth $275,608,000 after purchasing an additional 1,729,193 shares during the period. BlackRock Inc. raised its position in MP Materials by 29.1% in the 1st quarter. BlackRock Inc. now owns 6,398,647 shares of the company’s stock valued at $366,898,000 after buying an additional 1,441,580 shares during the last quarter. Renaissance Technologies LLC raised its position in MP Materials by 925.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,568,700 shares of the company’s stock valued at $89,949,000 after buying an additional 1,415,700 shares during the last quarter. Invesco Ltd. raised its position in MP Materials by 61.1% in the 1st quarter. Invesco Ltd. now owns 2,208,928 shares of the company’s stock valued at $126,661,000 after buying an additional 838,085 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. purchased a new stake in MP Materials in the 1st quarter valued at $22,936,000. 71.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 16,500 shares of the stock in a transaction on Friday, November 18th. The stock was sold at an average price of $32.39, for a total transaction of $534,435.00. Following the completion of the transaction, the chief financial officer now owns 211,476 shares in the company, valued at approximately $6,849,707.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ryan Corbett sold 16,500 shares of the stock in a transaction on Friday, November 18th. The stock was sold at an average price of $32.39, for a total transaction of $534,435.00. Following the completion of the transaction, the chief financial officer now owns 211,476 shares in the company, valued at approximately $6,849,707.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Financial Lp Qvt sold 109,876 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $36.57, for a total value of $4,018,165.32. Following the transaction, the director now owns 1,235,677 shares of the company’s stock, valued at approximately $45,188,707.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 557,185 shares of company stock worth $19,049,156. 41.30% of the stock is owned by company insiders.

MP Materials Stock Up 0.9 %

Shares of NYSE:MP opened at $34.05 on Thursday. The company has a market capitalization of $6.05 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 1.54 and a beta of 2.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 18.15 and a quick ratio of 17.33. The business has a fifty day moving average price of $30.59 and a two-hundred day moving average price of $33.27. MP Materials Corp. has a 1 year low of $26.19 and a 1 year high of $60.19.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MP shares. Canaccord Genuity Group lowered their price target on MP Materials from $47.00 to $40.00 in a research report on Wednesday, September 28th. Robert W. Baird increased their price target on MP Materials from $45.00 to $55.00 in a research report on Friday, August 5th. Cowen lowered their price target on MP Materials to $40.00 in a research report on Thursday, October 20th. Finally, Morgan Stanley reduced their price objective on MP Materials from $46.00 to $45.50 and set an “overweight” rating for the company in a research note on Friday, September 16th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, MP Materials has a consensus rating of “Buy” and an average price target of $47.39.

MP Materials Company Profile

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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.

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

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