Verition Fund Management LLC purchased a new position in MP Materials Corp. (NYSE:MP – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 13,516 shares of the company’s stock, valued at approximately $239,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of MP. Captrust Financial Advisors grew its holdings in shares of MP Materials by 5.0% during the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock valued at $207,000 after buying an additional 557 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in MP Materials by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 462,391 shares of the company’s stock worth $8,161,000 after acquiring an additional 19,077 shares during the period. Public Sector Pension Investment Board purchased a new position in MP Materials during the 3rd quarter valued at about $4,584,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of MP Materials by 8.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 190,340 shares of the company’s stock valued at $3,360,000 after purchasing an additional 15,407 shares during the period. Finally, FMR LLC lifted its position in shares of MP Materials by 673.5% in the third quarter. FMR LLC now owns 25,432 shares of the company’s stock worth $449,000 after purchasing an additional 22,144 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.
MP Materials Price Performance
Shares of NYSE:MP opened at $19.37 on Monday. The business’s 50 day moving average is $19.11 and its 200-day moving average is $15.73. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $3.16 billion, a PE ratio of -35.87 and a beta of 2.24. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $24.01.
Insiders Place Their Bets
In other news, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total value of $6,066,000.00. Following the sale, the chief executive officer now owns 18,043,076 shares in the company, valued at approximately $364,830,996.72. The trade was a 1.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 15,195 shares of MP Materials stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.30, for a total transaction of $278,068.50. Following the transaction, the chief financial officer now directly owns 295,021 shares of the company’s stock, valued at $5,398,884.30. This represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 884,862 shares of company stock worth $17,484,482 over the last 90 days. Corporate insiders own 12.60% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have weighed in on MP shares. BMO Capital Markets upped their price objective on shares of MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their target price on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Morgan Stanley upped their price target on MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Canaccord Genuity Group upped their target price on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Robert W. Baird upped their price objective on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.
Read Our Latest Stock Report on MP
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.
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