SG Americas Securities LLC Decreases Stake in MP Materials Corp. (NYSE:MP)

SG Americas Securities LLC lowered its stake in MP Materials Corp. (NYSE:MPGet Rating) by 30.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 20,810 shares of the company’s stock after selling 9,113 shares during the period. SG Americas Securities LLC’s holdings in MP Materials were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MP. State Street Corp raised its holdings in shares of MP Materials by 56.2% in 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. BlackRock Inc. increased its stake in shares of MP Materials by 29.1% in the first quarter. BlackRock Inc. now owns 6,398,647 shares of the company’s stock worth $366,898,000 after acquiring an additional 1,441,580 shares during the period. Renaissance Technologies LLC increased its stake in shares of MP Materials by 925.3% in the first quarter. Renaissance Technologies LLC now owns 1,568,700 shares of the company’s stock worth $89,949,000 after acquiring an additional 1,415,700 shares during the period. Invesco Ltd. increased its stake in shares of MP Materials by 61.1% in the first quarter. Invesco Ltd. now owns 2,208,928 shares of the company’s stock worth $126,661,000 after acquiring an additional 838,085 shares during the period. Finally, Millennium Management LLC increased its stake in shares of MP Materials by 583.9% in the second quarter. Millennium Management LLC now owns 576,477 shares of the company’s stock worth $18,493,000 after acquiring an additional 492,184 shares during the period. Hedge funds and other institutional investors own 62.84% of the company’s stock.

MP Materials Stock Up 1.9 %

MP stock opened at $30.78 on Tuesday. The firm has a market cap of $5.46 billion, a PE ratio of 21.68, a P/E/G ratio of 2.29 and a beta of 2.76. 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 firm’s fifty day moving average is $29.55 and its 200 day moving average is $31.09. MP Materials Corp. has a one year low of $23.50 and a one year high of $60.19.

MP Materials (NYSE:MPGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $124.45 million for the quarter, compared to analyst estimates of $118.90 million. MP Materials had a net margin of 50.81% and a return on equity of 24.79%. On average, research analysts forecast that MP Materials Corp. will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MP. Canaccord Genuity Group cut their price objective on shares of MP Materials from $47.00 to $40.00 in a research note on Wednesday, September 28th. Cowen cut their price objective on shares of MP Materials to $40.00 in a research note on Thursday, October 20th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $47.39.

Insider Activity

In other news, CFO Ryan Corbett sold 16,500 shares of MP Materials stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $32.39, for a total value of $534,435.00. Following the sale, the chief financial officer now owns 211,476 shares in the company, valued at $6,849,707.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Ryan Corbett sold 16,500 shares of MP Materials stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $32.39, for a total value of $534,435.00. Following the sale, the chief financial officer now owns 211,476 shares in the company, valued at $6,849,707.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Financial Lp Qvt sold 100,000 shares of MP Materials stock in a transaction dated 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 owns 1,124,469 shares in the company, valued at approximately $35,701,890.75. The disclosure for this sale can be found here. Company insiders own 41.30% of the company’s stock.

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.

Read More

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.