MP Materials Corp. (NYSE:MP) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its holdings in shares of MP Materials Corp. (NYSE:MP) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,400 shares of the company’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in MP Materials were worth $911,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its holdings in 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 boosted its position 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 valued at $21,988,000 after buying an additional 306,933 shares during the last quarter. Bernzott Capital Advisors lifted 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 worth $12,166,000 after purchasing an additional 208,586 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in MP Materials by 35.7% in the third 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 last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in MP Materials by 13.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 505,532 shares of the company’s stock worth $8,923,000 after acquiring an additional 59,469 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 brokerages have commented on MP. JPMorgan Chase & Co. raised their price target on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. BMO Capital Markets raised their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Finally, Canaccord Genuity Group lifted their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.45.

MP Materials Stock Performance

Shares of MP Materials stock opened at $23.72 on Tuesday. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $26.00. The business has a fifty day simple moving average of $20.13 and a two-hundred day simple moving average of $17.68. 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 $3.87 billion, a P/E ratio of -43.92 and a beta of 2.34.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 35,000 shares of MP Materials stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the transaction, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $5,590,451.50. This trade represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James H. Litinsky sold 234,667 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.68, for a total value of $4,852,913.56. Following the completion of the sale, the chief executive officer now owns 17,608,409 shares of the company’s stock, valued at $364,141,898.12. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 955,890 shares of company stock valued at $20,944,628 in the last ninety days. 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.