Barclays PLC Sells 7,067 Shares of MP Materials Corp. (NYSE:MP)

Barclays PLC lowered its stake in MP Materials Corp. (NYSE:MP) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,524 shares of the company’s stock after selling 7,067 shares during the period. Barclays PLC’s holdings in MP Materials were worth $855,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after buying an additional 1,285 shares during the last quarter. Signaturefd LLC grew its position in MP Materials by 817.5% during the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after buying an additional 3,262 shares during the period. Point72 Hong Kong Ltd bought a new position in MP Materials in the 2nd quarter worth $72,000. KBC Group NV grew its stake in shares of MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after acquiring an additional 1,246 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of MP Materials during the 2nd quarter valued at $100,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MP Materials

In other MP Materials news, 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 value of $5,535,000.00. Following the transaction, the chief executive officer now owns 18,221,776 shares in the company, valued at approximately $336,191,767.20. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 15,195 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.30, for a total transaction of $278,068.50. Following the sale, the chief financial officer now directly owns 295,021 shares of the company’s stock, valued at approximately $5,398,884.30. This represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 884,862 shares of company stock valued at $17,484,482. 12.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Canaccord Genuity Group lifted their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. DA Davidson lifted their target price on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Robert W. Baird lifted their target price on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets boosted their price objective on shares of MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.

MP Materials Price Performance

Shares of NYSE MP opened at $20.64 on Thursday. 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 business’s 50 day moving average price is $18.89 and its 200 day moving average price is $16.27. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $24.01. The firm has a market cap of $3.37 billion, a P/E ratio of -38.22 and a beta of 2.31.

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.