Mutual of America Capital Management LLC Sells 58,263 Shares of MP Materials Corp. (NYSE:MP)

Mutual of America Capital Management LLC lessened its position in shares of MP Materials Corp. (NYSE:MP) by 76.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,406 shares of the company’s stock after selling 58,263 shares during the period. Mutual of America Capital Management LLC’s holdings in MP Materials were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MP. GAMMA Investing LLC lifted its holdings in shares of MP Materials by 136.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after acquiring an additional 1,285 shares during the period. Nisa Investment Advisors LLC lifted its stake in MP Materials by 3,803.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock valued at $52,000 after purchasing an additional 3,956 shares during the last quarter. Signaturefd LLC lifted its stake in MP Materials by 817.5% in the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after purchasing an additional 3,262 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in MP Materials in the 2nd quarter valued at approximately $72,000. Finally, KBC Group NV lifted its stake in 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 purchasing an additional 1,246 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 15,195 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.30, for a total value of $278,068.50. Following the completion of the sale, the chief financial officer now directly owns 295,021 shares in the company, valued at approximately $5,398,884.30. This trade represents a 4.90 % 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. Also, CEO James H. Litinsky sold 300,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the sale, the chief executive officer now owns 18,221,776 shares of the company’s stock, valued at $336,191,767.20. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MP has been the subject of several research reports. DA Davidson increased their price objective on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Robert W. Baird upped their price target on shares of MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Canaccord Genuity Group upped their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets upped their price target on shares of MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.

MP Materials Trading Up 2.9 %

MP opened at $20.84 on Friday. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $21.26. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average of $18.13 and a 200-day moving average of $15.48. The stock has a market cap of $3.40 billion, a PE ratio of -38.59 and a beta of 2.23.

MP Materials declared that its board has authorized a share repurchase plan on Tuesday, September 3rd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.