Keybank National Association OH Has $276,000 Stake in MP Materials Corp. (NYSE:MP)

Keybank National Association OH boosted its holdings in shares of MP Materials Corp. (NYSE:MP) by 14.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,709 shares of the company’s stock after purchasing an additional 2,251 shares during the period. Keybank National Association OH’s holdings in MP Materials were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Captrust Financial Advisors increased its stake in shares of MP Materials by 5.0% in the 3rd quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock valued at $207,000 after buying an additional 557 shares during the period. SWS Partners increased its stake in shares of MP Materials by 0.4% in the 4th quarter. SWS Partners now owns 162,503 shares of the company’s stock valued at $2,535,000 after buying an additional 707 shares during the period. Pekin Hardy Strauss Inc. increased its stake in shares of MP Materials by 0.4% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company’s stock valued at $4,509,000 after buying an additional 1,135 shares during the period. KBC Group NV increased its stake in shares of MP Materials by 35.7% in the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after buying an additional 1,246 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in shares of MP Materials by 4.0% in the 4th quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company’s stock valued at $605,000 after buying an additional 1,500 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Stock Down 1.7 %

Shares of MP Materials stock opened at $24.00 on Wednesday. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. 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 $22.20 and a 200 day simple moving average of $19.05. The stock has a market cap of $3.92 billion, a PE ratio of -40.67 and a beta of 2.32.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The company had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. Research analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

MP has been the subject of several research reports. Canaccord Genuity Group lifted their target price on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets lifted their target price on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, MP Materials currently has an average rating of “Moderate Buy” and a consensus price target of $22.45.

Insiders Place Their Bets

In other MP Materials news, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction dated 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 transaction, the chief executive officer now directly owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 12.60% of the company’s stock.

About MP Materials

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.