New York State Teachers Retirement System Increases Stock Position in MP Materials Corp. (NYSE:MP)

New York State Teachers Retirement System boosted its holdings in MP Materials Corp. (NYSE:MP) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,900 shares of the company’s stock after acquiring an additional 6,800 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of MP Materials worth $1,558,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its position in MP Materials by 205.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after purchasing an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after acquiring an additional 2,200 shares in the last quarter. GAMMA Investing LLC raised its stake in MP Materials by 69.3% in the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock valued at $59,000 after purchasing an additional 1,545 shares during the last quarter. Signaturefd LLC raised its position in shares of MP Materials by 817.5% in 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 last quarter. Finally, KBC Group NV grew 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 worth $84,000 after acquiring an additional 1,246 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Trading Up 4.6 %

NYSE MP opened at $24.25 on Friday. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $26.00. The stock has a market cap of $3.96 billion, a P/E ratio of -41.09 and a beta of 2.34. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The company’s fifty day simple moving average is $20.45 and its 200-day simple moving average is $17.98.

MP Materials (NYSE:MP) last issued its quarterly earnings data 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 business had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. Equities research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the transaction, the chief financial officer now owns 260,021 shares in the company, valued at approximately $5,590,451.50. This represents a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total value of $9,273,214.23. Following the completion of the transaction, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at $375,590,254.76. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 955,890 shares of company stock worth $20,944,628. Corporate insiders own 12.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MP shares. Canaccord Genuity Group increased their target price on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets lifted their target price on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.45.

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.