MP Materials Corp. (NYSE:MP) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of MP Materials Corp. (NYSE:MP) by 9.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,887 shares of the company’s stock after selling 2,838 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in MP Materials were worth $404,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in shares of MP Materials by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,359,092 shares of the company’s stock valued at $41,638,000 after acquiring an additional 28,697 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after acquiring an additional 306,933 shares during the period. Bernzott Capital Advisors lifted its position in MP Materials by 43.4% during the 3rd quarter. Bernzott Capital Advisors now owns 689,270 shares of the company’s stock worth $12,166,000 after acquiring an additional 208,586 shares during the period. Principal Financial Group Inc. lifted its position in MP Materials by 35.7% during the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after acquiring an additional 159,200 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of MP Materials by 13.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 505,532 shares of the company’s stock valued at $8,923,000 after buying an additional 59,469 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of NYSE:MP opened at $23.72 on Friday. The firm has a market capitalization of $3.87 billion, a PE ratio of -43.92 and a beta of 2.34. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The business has a 50-day moving average of $20.07 and a two-hundred day moving average of $17.57. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $26.00.

Analysts Set New Price Targets

MP has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. BMO Capital Markets raised their price target on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Finally, Canaccord Genuity Group raised their price target on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.45.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 300,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $18.45, for a total value of $5,535,000.00. Following the completion of the transaction, the chief executive officer now owns 18,221,776 shares of the company’s stock, valued at approximately $336,191,767.20. This represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ryan Corbett sold 15,195 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.30, for a total value of $278,068.50. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 1,271,085 shares of company stock valued at $26,757,696 over the last quarter. Company insiders own 12.60% of the company’s stock.

MP Materials 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.