Chicago Partners Investment Group LLC Has $200,000 Stock Position in MP Materials Corp. (NYSE:MP)

Chicago Partners Investment Group LLC lowered its stake in MP Materials Corp. (NYSE:MP) by 15.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,051 shares of the company’s stock after selling 1,826 shares during the period. Chicago Partners Investment Group LLC’s holdings in MP Materials were worth $200,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Aurora Investment Counsel lifted its holdings in shares of MP Materials by 13.0% during the fourth quarter. Aurora Investment Counsel now owns 56,580 shares of the company’s stock worth $1,123,000 after purchasing an additional 6,498 shares during the period. CoreCommodity Management LLC lifted its holdings in shares of MP Materials by 107.1% during the fourth quarter. CoreCommodity Management LLC now owns 39,317 shares of the company’s stock worth $780,000 after purchasing an additional 20,335 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of MP Materials by 13.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 49,267 shares of the company’s stock worth $978,000 after purchasing an additional 5,929 shares during the period. Cladis Investment Advisory LLC bought a new position in MP Materials during the fourth quarter worth $779,000. Finally, Old West Investment Management LLC raised its stake in MP Materials by 56.3% during the fourth quarter. Old West Investment Management LLC now owns 250,000 shares of the company’s stock worth $4,962,000 after buying an additional 90,000 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Trading Up 0.6 %

MP opened at $13.41 on Wednesday. MP Materials Corp. has a 1-year low of $12.68 and a 1-year 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. The company has a market cap of $2.22 billion, a P/E ratio of -89.36 and a beta of 2.28. The company has a fifty day moving average price of $16.15 and a two-hundred day moving average price of $16.28.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The business had revenue of $48.68 million for the quarter, compared to the consensus estimate of $46.00 million. MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. Analysts predict that MP Materials Corp. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at MP Materials

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