Raymond James Financial Services Advisors Inc. Sells 5,977 Shares of MP Materials Corp. (NYSE:MP)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of MP Materials Corp. (NYSE:MP – Get Rating) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,635 shares of the company’s stock after selling 5,977 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.06% of MP Materials worth $2,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Advisors L.P. raised its holdings in shares of MP Materials by 22.9% in 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 during the last quarter. Bank of Montreal Can raised its holdings in shares of MP Materials by 18.5% in the 1st quarter. Bank of Montreal Can now owns 45,673 shares of the company’s stock worth $2,576,000 after acquiring an additional 7,124 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of MP Materials by 53.4% in the 1st quarter. MetLife Investment Management LLC now owns 41,394 shares of the company’s stock worth $2,374,000 after acquiring an additional 14,406 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of MP Materials by 8.9% in the 1st quarter. Rhumbline Advisers now owns 84,009 shares of the company’s stock worth $4,817,000 after acquiring an additional 6,843 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of MP Materials by 29.1% in the 1st 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 last quarter. Institutional investors own 62.84% of the company’s stock.

MP Materials Stock Up 2.6 %

MP opened at $21.82 on Tuesday. The company has a 50 day moving average of $24.66 and a 200 day moving average of $28.65. The company has a market cap of $3.88 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 2.04 and a beta of 2.69. MP Materials Corp. has a 12 month low of $20.21 and a 12 month high of $42.84. The company has a current ratio of 13.50, a quick ratio of 12.84 and a debt-to-equity ratio of 0.50.

MP Materials (NYSE:MP – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.11 by $0.28. The company had revenue of $93.25 million during the quarter, compared to the consensus estimate of $82.53 million. MP Materials had a net margin of 52.72% and a return on equity of 20.17%. On average, sell-side analysts expect that MP Materials Corp. will post 0.64 EPS for the current year.

Insider Buying and Selling

In other news, COO Michael Stuart Rosenthal purchased 5,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was purchased at an average cost of $21.78 per share, with a total value of $108,900.00. Following the acquisition, the chief operating officer now directly owns 29,476 shares in the company, valued at $641,987.28. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 41.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on MP. Canaccord Genuity Group increased their price objective on shares of MP Materials from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, February 24th. DA Davidson decreased their price objective on shares of MP Materials from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday, April 19th. Morgan Stanley decreased their price objective on shares of MP Materials from $45.50 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, March 16th. Northland Securities lowered shares of MP Materials from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research note on Tuesday, April 18th. Finally, TheStreet lowered shares of MP Materials from a “c-” rating to a “d+” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.33.

MP Materials 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.