Janney Montgomery Scott LLC Grows Stock Holdings in MP Materials Corp. (NYSE:MP)

Janney Montgomery Scott LLC increased its stake in shares of MP Materials Corp. (NYSE:MPGet Rating) by 154.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 130,557 shares of the company’s stock after acquiring an additional 79,317 shares during the period. Janney Montgomery Scott LLC’s holdings in MP Materials were worth $3,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of MP Materials by 29.1% during the first quarter. BlackRock Inc. now owns 6,398,647 shares of the company’s stock worth $366,898,000 after buying an additional 1,441,580 shares during the last quarter. State Street Corp grew its holdings 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 buying an additional 1,729,193 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in MP Materials by 56.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,462,000 shares of the company’s stock valued at $78,981,000 after purchasing an additional 893,300 shares in the last quarter. Invesco Ltd. boosted its holdings 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 purchasing an additional 838,085 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in MP Materials by 5.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,437,652 shares of the company’s stock valued at $46,120,000 after purchasing an additional 72,009 shares in the last quarter. Hedge funds and other institutional investors own 62.84% of the company’s stock.

Insider Buying and Selling at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 16,500 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 211,476 shares in the company, valued at approximately $6,849,707.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Financial Lp Qvt sold 100,000 shares of the business’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $31.75, for a total transaction of $3,175,000.00. Following the completion of the sale, the director now directly owns 1,124,469 shares of the company’s stock, valued at approximately $35,701,890.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ryan Corbett sold 16,500 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $32.39, for a total transaction 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. 41.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MP. Cowen lowered their price objective on MP Materials to $40.00 in a report on Thursday, October 20th. Morgan Stanley lowered their price objective on MP Materials from $46.00 to $45.50 and set an “overweight” rating on the stock in a report on Friday, September 16th. Finally, Canaccord Genuity Group decreased their price target on MP Materials from $47.00 to $40.00 in a research note on Wednesday, September 28th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MP Materials has an average rating of “Buy” and a consensus target price of $47.39.

MP Materials Trading Up 3.6 %

Shares of MP Materials stock opened at $28.85 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 18.15 and a quick ratio of 17.33. MP Materials Corp. has a 1 year low of $23.50 and a 1 year high of $60.19. The company has a market capitalization of $5.12 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.99 and a beta of 2.76. The business has a 50 day moving average price of $29.84 and a 200 day moving average price of $31.26.

MP Materials (NYSE:MPGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. MP Materials had a return on equity of 24.79% and a net margin of 50.81%. The firm had revenue of $124.45 million during the quarter, compared to the consensus estimate of $118.90 million. Sell-side analysts anticipate that MP Materials Corp. will post 1.28 EPS for the current fiscal year.

MP Materials 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.

Featured Stories

Want to see what other hedge funds are holding MP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MP Materials Corp. (NYSE:MPGet Rating).

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

Receive News & Ratings for MP Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MP Materials and related companies with MarketBeat.com's FREE daily email newsletter.