GAMMA Investing LLC Purchases 1,545 Shares of MP Materials Corp. (NYSE:MP)

GAMMA Investing LLC lifted its holdings in MP Materials Corp. (NYSE:MP) by 69.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,775 shares of the company’s stock after purchasing an additional 1,545 shares during the period. GAMMA Investing LLC’s holdings in MP Materials were worth $59,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Millennium Management LLC increased its stake in shares of MP Materials by 425.5% in the 2nd quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock worth $10,201,000 after purchasing an additional 648,838 shares in the last quarter. Bank of Montreal Can lifted its holdings in MP Materials by 188.1% in the 2nd quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock worth $11,462,000 after purchasing an additional 586,906 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in MP Materials by 32.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after purchasing an additional 306,933 shares during the period. Public Sector Pension Investment Board purchased a new stake in MP Materials during the 3rd quarter valued at approximately $4,584,000. Finally, Bernzott Capital Advisors raised its position in shares of MP Materials by 43.4% during the third quarter. Bernzott Capital Advisors now owns 689,270 shares of the company’s stock valued at $12,166,000 after buying an additional 208,586 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MP shares. Canaccord Genuity Group upped their price objective on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. BMO Capital Markets upped their price target 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. Morgan Stanley lifted their price objective on shares of MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. upped their price objective on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, DA Davidson lifted their target price on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MP Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.10.

MP Materials Trading Up 2.1 %

MP stock opened at $19.78 on Monday. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $24.01. The firm’s 50-day moving average is $18.85 and its 200 day moving average is $16.17. The company has a market capitalization of $3.23 billion, a PE ratio of -36.63 and a beta of 2.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

Insider Activity

In other news, CEO James H. Litinsky sold 234,667 shares of MP Materials stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.68, for a total value of $4,852,913.56. Following the transaction, the chief executive officer now directly owns 17,608,409 shares in the company, valued at approximately $364,141,898.12. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 15,195 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.30, for a total value of $278,068.50. Following the sale, the chief financial officer now owns 295,021 shares of the company’s stock, valued at $5,398,884.30. This trade represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 884,862 shares of company stock valued at $17,484,482. Corporate insiders own 12.60% of the company’s stock.

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.