Amundi Sells 62,800 Shares of MP Materials Corp. (NYSE:MP)

Amundi lowered its stake in MP Materials Corp. (NYSE:MP) by 83.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,200 shares of the company’s stock after selling 62,800 shares during the quarter. Amundi’s holdings in MP Materials were worth $190,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MP. Captrust Financial Advisors lifted its position in shares of MP Materials by 5.0% in the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock worth $207,000 after purchasing an additional 557 shares in the last quarter. SWS Partners lifted its position in shares of MP Materials by 0.4% in the fourth quarter. SWS Partners now owns 162,503 shares of the company’s stock worth $2,535,000 after purchasing an additional 707 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its position in shares of MP Materials by 0.4% in the third quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company’s stock worth $4,509,000 after purchasing an additional 1,135 shares in the last quarter. KBC Group NV increased its holdings in MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after buying an additional 1,246 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in MP Materials by 4.0% during the fourth quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company’s stock worth $605,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

Insider Activity

In other news, CFO Ryan Corbett sold 15,000 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James H. Litinsky sold 386,223 shares of the company’s 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 sale, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at $375,590,254.76. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,112,316 shares of company stock valued at $28,665,974. 12.60% of the stock is owned by company insiders.

MP Materials Price Performance

NYSE:MP opened at $25.81 on Friday. MP Materials Corp. has a one year low of $10.02 and a one year high of $27.29. The company has a market cap of $4.22 billion, a P/E ratio of -43.75 and a beta of 2.32. The firm’s fifty day moving average price is $23.36 and its two-hundred day moving average price is $19.69. 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 (NYSE:MP) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The company had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. Equities analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

MP has been the topic of a number of recent analyst reports. DA Davidson boosted their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets boosted their target price on shares of MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, Canaccord Genuity Group boosted 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.61.

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.