SG Americas Securities LLC Sells 1,790 Shares of MP Materials Corp. (NYSE:MP)

SG Americas Securities LLC lessened its stake in shares of MP Materials Corp. (NYSE:MP) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,429 shares of the company’s stock after selling 1,790 shares during the period. SG Americas Securities LLC’s holdings in MP Materials were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in MP Materials by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 13,635,712 shares of the company’s stock worth $270,669,000 after purchasing an additional 254,881 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of MP Materials by 15.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 62,091 shares of the company’s stock worth $888,000 after buying an additional 8,376 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of MP Materials by 2,536.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,661,887 shares of the company’s stock valued at $23,767,000 after buying an additional 1,598,861 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of MP Materials by 12.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 47,179 shares of the company’s stock valued at $675,000 after buying an additional 5,200 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of MP Materials in the 2nd quarter valued at about $959,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Insiders Place Their Bets

In other news, COO Michael Stuart Rosenthal purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $10.84 per share, for a total transaction of $325,200.00. Following the completion of the purchase, the chief operating officer now owns 1,402,975 shares in the company, valued at approximately $15,208,249. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 12.60% of the company’s stock.

Analyst Upgrades and Downgrades

MP has been the topic of a number of recent research reports. DA Davidson upped their price objective on MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft decreased their price target on MP Materials from $13.50 to $12.50 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Robert W. Baird lifted their price objective on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of MP Materials in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.15.

MP Materials Trading Down 2.6 %

Shares of MP opened at $18.10 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 6.90 and a quick ratio of 6.17. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -120.67 and a beta of 2.23. The company has a 50-day moving average of $14.93 and a 200 day moving average of $14.94. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $20.85.

MP Materials (NYSE:MP) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.08). The firm had revenue of $31.26 million during the quarter, compared to analysts’ expectations of $40.03 million. MP Materials had a negative net margin of 21.94% and a negative return on equity of 4.28%. The firm’s revenue for the quarter was down 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. On average, research analysts expect that MP Materials Corp. will post -0.48 EPS for the current year.

MP Materials declared that its Board of Directors has initiated a stock buyback plan on Tuesday, September 3rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 13.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

MP Materials Company Profile

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.