MP Materials Corp. (NYSE:MP) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its holdings in MP Materials Corp. (NYSE:MPFree Report) by 64.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 190,513 shares of the company’s stock after selling 346,387 shares during the period. Allianz Asset Management GmbH owned 0.11% of MP Materials worth $3,782,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Retirement Systems of Alabama raised its holdings in shares of MP Materials by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 180,391 shares of the company’s stock worth $3,581,000 after acquiring an additional 723 shares during the last quarter. CWM LLC raised its stake in MP Materials by 85.0% in the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after purchasing an additional 766 shares during the last quarter. Amalgamated Bank lifted its holdings in MP Materials by 1.0% in the 4th quarter. Amalgamated Bank now owns 84,408 shares of the company’s stock valued at $1,675,000 after purchasing an additional 798 shares in the last quarter. Mirador Capital Partners LP boosted its stake in shares of MP Materials by 5.3% during the 4th quarter. Mirador Capital Partners LP now owns 17,142 shares of the company’s stock worth $340,000 after purchasing an additional 863 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of MP Materials by 1.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 74,212 shares of the company’s stock worth $1,473,000 after buying an additional 1,014 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MP Materials

In related news, CFO Ryan Corbett sold 50,000 shares of MP Materials stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the sale, the chief financial officer now owns 325,021 shares in the company, valued at $5,502,605.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Ryan Corbett sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the sale, the chief financial officer now directly owns 325,021 shares of the company’s stock, valued at approximately $5,502,605.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew A. Mcknight sold 317,750 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the sale, the director now directly owns 86,000 shares in the company, valued at $1,554,020. The disclosure for this sale can be found here. 12.60% of the stock is owned by insiders.

MP Materials Price Performance

Shares of MP stock opened at $15.25 on Friday. The firm has a fifty day simple moving average of $16.32 and a 200-day simple moving average of $16.38. The company has a market capitalization of $2.52 billion, a PE ratio of -101.63 and a beta of 2.28. MP Materials Corp. has a twelve month low of $12.68 and a twelve month high of $26.53. The company has a current ratio of 10.29, a quick ratio of 9.28 and a debt-to-equity ratio of 0.82.

MP Materials (NYSE:MPGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. The firm had revenue of $48.68 million during the quarter, compared to analysts’ expectations of $46.00 million. Equities research analysts anticipate that MP Materials Corp. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Morgan Stanley lowered shares of MP Materials from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $26.00 to $15.50 in a research report on Wednesday, March 13th. Canaccord Genuity Group lowered their price objective on MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of MP Materials in a report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft cut their target price on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Finally, Jefferies Financial Group decreased their price target on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, MP Materials currently has a consensus rating of “Moderate Buy” and an average target price of $23.64.

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MP Materials Company Profile

(Free Report)

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It 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.

Further Reading

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

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