Proficio Capital Partners LLC Takes Position in MP Materials Corp. (NYSE:MP)

Proficio Capital Partners LLC purchased a new stake in shares of MP Materials Corp. (NYSE:MP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 25,553 shares of the company’s stock, valued at approximately $399,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oak Family Advisors LLC bought a new stake in shares of MP Materials during the fourth quarter valued at about $530,000. Segall Bryant & Hamill LLC increased its position in shares of MP Materials by 32.7% during the third 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 period. Quest Partners LLC increased its position in shares of MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after buying an additional 38,204 shares during the period. SG Americas Securities LLC increased its position in shares of MP Materials by 167.3% during the fourth quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock valued at $560,000 after buying an additional 22,473 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of MP Materials during the third quarter valued at about $2,300,000. 52.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MP. BMO Capital Markets upped their price target on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Canaccord Genuity Group boosted 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. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.45.

Insiders Place Their Bets

In other news, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the sale, the chief executive officer now owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.60% of the stock is owned by insiders.

MP Materials Stock Down 2.2 %

Shares of MP opened at $24.44 on Tuesday. The firm has a market cap of $3.99 billion, a P/E ratio of -41.42 and a beta of 2.32. The stock has a 50 day simple moving average of $22.03 and a two-hundred day simple moving average of $18.97. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $26.00.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The firm had revenue of $60.99 million during the quarter, compared to analysts’ expectations of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. On average, analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

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.