24,900 Shares in MP Materials Corp. (NYSE:MP) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of MP Materials Corp. (NYSE:MP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 24,900 shares of the company’s stock, valued at approximately $388,000.

A number of other hedge funds also recently made changes to their positions in MP. Sei Investments Co. purchased a new stake in shares of MP Materials during the 4th quarter worth about $156,000. Virtu Financial LLC purchased a new stake in MP Materials during the fourth quarter worth approximately $1,234,000. Sciencast Management LP acquired a new stake in shares of MP Materials in the fourth quarter worth $241,000. MRP Capital Investments LLC raised its stake in shares of MP Materials by 11.9% in the 4th quarter. MRP Capital Investments LLC now owns 26,825 shares of the company’s stock valued at $418,000 after acquiring an additional 2,850 shares during the period. Finally, Chesapeake Capital Corp IL acquired a new position in shares of MP Materials during the 4th quarter valued at $267,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 60,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the transaction, the chief financial officer now owns 230,100 shares in the company, valued at approximately $5,869,851. This represents a 20.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James H. Litinsky sold 18,519 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $27.00, for a total value of $500,013.00. Following the completion of the sale, the chief executive officer now owns 13,842,256 shares of the company’s stock, valued at $373,740,912. This trade represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,130,835 shares of company stock worth $29,165,987 in the last three months. Insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on MP shares. DA Davidson boosted their price target on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. BMO Capital Markets upped their target price on shares of 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.61.

MP Materials Trading Down 7.3 %

Shares of MP opened at $23.00 on Friday. The stock’s fifty day simple moving average is $24.30 and its 200-day simple moving average is $20.50. The firm has a market capitalization of $3.76 billion, a PE ratio of -38.98 and a beta of 2.24. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $27.29. 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 (NYSE:MP) last announced 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). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The firm had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. As a group, research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

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.