Avantax Advisory Services Inc. Raises Stock Holdings in MP Materials Corp. (NYSE:MP)

Avantax Advisory Services Inc. lifted its position in MP Materials Corp. (NYSE:MP) by 10.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,179 shares of the company’s stock after acquiring an additional 2,240 shares during the quarter. Avantax Advisory Services Inc.’s holdings in MP Materials were worth $362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in MP Materials in the 4th quarter valued at about $6,284,000. Principal Financial Group Inc. boosted its holdings in shares of MP Materials by 48.7% during the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company’s stock worth $14,035,000 after purchasing an additional 294,806 shares during the period. Wealthfront Advisers LLC purchased a new position in MP Materials in the fourth quarter valued at about $4,484,000. Public Sector Pension Investment Board acquired a new position in shares of MP Materials during the 3rd quarter worth $4,584,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of MP Materials by 15.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company’s stock worth $16,843,000 after acquiring an additional 144,661 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In other news, CEO James H. Litinsky sold 386,223 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 60,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the transaction, the chief financial officer now owns 230,100 shares of the company’s stock, valued at $5,869,851. This trade represents a 20.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,112,316 shares of company stock valued at $28,665,974. 12.60% of the stock is currently owned by company insiders.

MP Materials Price Performance

Shares of NYSE MP opened at $26.57 on Tuesday. 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 $23.50 and a 200-day moving average of $19.87. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of -45.03 and a beta of 2.32. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $27.29.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. As a group, sell-side analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Canaccord Genuity Group lifted 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. DA Davidson upped their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Finally, BMO Capital Markets lifted their target price on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.61.

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.