MP Materials Corp. (NYSE:MP) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its position in shares of MP Materials Corp. (NYSE:MP) by 66.9% in the fourth quarter, HoldingsChannel reports. The firm owned 99,967 shares of the company’s stock after selling 201,960 shares during the quarter. Millennium Management LLC’s holdings in MP Materials were worth $1,559,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in MP Materials by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company’s stock valued at $322,000 after acquiring an additional 662 shares in the last quarter. Quadrant Capital Group LLC raised its position in MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after acquiring an additional 701 shares in the last quarter. SWS Partners raised its position in MP Materials by 0.4% during the fourth quarter. SWS Partners now owns 162,503 shares of the company’s stock valued at $2,535,000 after acquiring an additional 707 shares in the last quarter. Handelsbanken Fonder AB raised its position in MP Materials by 4.0% during the fourth quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company’s stock valued at $605,000 after acquiring an additional 1,500 shares in the last quarter. Finally, KBC Group NV raised its position in MP Materials by 33.0% during the fourth quarter. KBC Group NV now owns 6,297 shares of the company’s stock valued at $98,000 after acquiring an additional 1,564 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Performance

NYSE:MP opened at $22.00 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The company has a fifty day moving average of $23.07 and a two-hundred day moving average of $22.07. The stock has a market capitalization of $3.60 billion, a PE ratio of -37.29 and a beta of 2.14. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $29.72.

MP Materials (NYSE:MP) last released its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.81 million for the quarter, compared to analysts’ expectations of $64.74 million. During the same period in the previous year, the company earned ($0.04) EPS. MP Materials’s quarterly revenue was up 24.9% compared to the same quarter last year. As a group, research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on MP shares. BMO Capital Markets lifted their price target on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research report on Thursday, March 20th. DA Davidson lifted their price target on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reduced their price target on MP Materials from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.61.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $27.08, for a total value of $5,393,794.40. Following the completion of the sale, the chief executive officer now directly owns 13,643,076 shares in the company, valued at $369,454,498.08. This represents a 1.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ryan Corbett sold 15,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. The trade was a 6.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 943,792 shares of company stock valued at $25,286,567 over the last 90 days. 9.50% of the stock is currently owned by corporate insiders.

About MP Materials

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.