MP Materials Corp. (NYSE:MP) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in shares of MP Materials Corp. (NYSE:MP – Get Rating) by 8.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 200,742 shares of the company’s stock after selling 19,365 shares during the period. Raymond James & Associates owned approximately 0.11% of MP Materials worth $4,874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MP. Natixis Advisors L.P. lifted its position in MP Materials by 22.9% during the 1st quarter. Natixis Advisors L.P. now owns 18,394 shares of the company’s stock worth $1,055,000 after acquiring an additional 3,430 shares in the last quarter. Bank of Montreal Can increased its holdings in MP Materials by 18.5% during the 1st quarter. Bank of Montreal Can now owns 45,673 shares of the company’s stock worth $2,576,000 after purchasing an additional 7,124 shares during the last quarter. MetLife Investment Management LLC increased its holdings in MP Materials by 53.4% during the 1st quarter. MetLife Investment Management LLC now owns 41,394 shares of the company’s stock worth $2,374,000 after purchasing an additional 14,406 shares during the last quarter. Rhumbline Advisers increased its holdings in MP Materials by 8.9% during the 1st quarter. Rhumbline Advisers now owns 84,009 shares of the company’s stock worth $4,817,000 after purchasing an additional 6,843 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in MP Materials by 29.1% during the 1st quarter. BlackRock Inc. now owns 6,398,647 shares of the company’s stock worth $366,898,000 after purchasing an additional 1,441,580 shares during the last quarter. 62.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MP Materials

In other news, COO Michael Stuart Rosenthal purchased 5,000 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were purchased at an average price of $21.78 per share, with a total value of $108,900.00. Following the purchase, the chief operating officer now directly owns 29,476 shares of the company’s stock, valued at approximately $641,987.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 41.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MP. TheStreet downgraded MP Materials from a “c-” rating to a “d+” rating in a report on Thursday. DA Davidson reduced their price target on MP Materials from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Morgan Stanley reduced their price target on MP Materials from $45.50 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, March 16th. Northland Securities lowered MP Materials from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research report on Tuesday, April 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on MP Materials from $30.00 to $26.00 in a research report on Monday, May 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.33.

MP Materials Stock Performance

MP stock opened at $21.82 on Tuesday. The business’s 50-day moving average price is $24.66 and its two-hundred day moving average price is $28.65. The company has a current ratio of 13.50, a quick ratio of 12.84 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.88 billion, a PE ratio of 17.18, a P/E/G ratio of 2.04 and a beta of 2.69. MP Materials Corp. has a 1-year low of $20.21 and a 1-year high of $42.84.

MP Materials (NYSE:MP – Get Rating) last posted its earnings results on Thursday, February 23rd. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.28. The firm had revenue of $93.25 million for the quarter, compared to analyst estimates of $82.53 million. MP Materials had a return on equity of 20.17% and a net margin of 52.72%. As a group, research analysts forecast that MP Materials Corp. will post 0.64 earnings per share for the current 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.