Swiss National Bank Has $6.05 Million Position in MP Materials Corp. (NYSE:MP)

Swiss National Bank boosted its stake in shares of MP Materials Corp. (NYSE:MPGet Rating) by 28.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 188,600 shares of the company’s stock after buying an additional 41,500 shares during the quarter. Swiss National Bank’s holdings in MP Materials were worth $6,050,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elequin Capital LP acquired a new position in MP Materials during the 1st quarter worth about $45,000. ACG Wealth acquired a new position in shares of MP Materials in the 2nd quarter valued at about $38,000. Wolff Wiese Magana LLC lifted its stake in shares of MP Materials by 409.8% in the 1st quarter. Wolff Wiese Magana LLC now owns 1,983 shares of the company’s stock valued at $114,000 after purchasing an additional 1,594 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of MP Materials in the 1st quarter valued at about $118,000. Finally, Stonebridge Capital Advisors LLC lifted its stake in shares of MP Materials by 79.7% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 2,075 shares of the company’s stock valued at $119,000 after purchasing an additional 920 shares during the period. 71.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

MP Materials Stock Up 0.9 %

MP stock opened at $34.05 on Thursday. The stock’s 50 day simple moving average is $30.59 and its 200 day simple moving average is $33.27. MP Materials Corp. has a fifty-two week low of $26.19 and a fifty-two week high of $60.19. The company has a debt-to-equity ratio of 0.55, a quick ratio of 17.33 and a current ratio of 18.15. The company has a market cap of $6.05 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 1.54 and a beta of 2.69.

Insiders Place Their Bets

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

MP Materials Company Profile

(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.

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

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