Charles Schwab Investment Management Inc. Increases Stock Position in MP Materials Corp. (NYSE:MP)

Charles Schwab Investment Management Inc. raised its stake in shares of MP Materials Corp. (NYSE:MP) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,079,668 shares of the company’s stock after purchasing an additional 144,661 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.66% of MP Materials worth $16,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oak Family Advisors LLC purchased a new position in shares of MP Materials during the 4th quarter valued at about $530,000. Quest Partners LLC raised its stake in shares of MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock worth $758,000 after acquiring an additional 38,204 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of MP Materials by 167.3% in the 4th quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock worth $560,000 after acquiring an additional 22,473 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of MP Materials in the 3rd quarter valued at $2,300,000. Finally, Principal Financial Group Inc. grew its holdings in shares of MP Materials by 35.7% during the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock valued at $10,676,000 after purchasing an additional 159,200 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. 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, November 27th. DA Davidson increased their target price on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets lifted their price target on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.61.

Insider Buying and Selling

In other news, CFO Ryan Corbett sold 15,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the sale, the chief financial officer now directly owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. This represents a 6.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction dated 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 approximately $375,590,254.76. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,112,316 shares of company stock valued at $28,665,974 over the last ninety days. Company insiders own 12.60% of the company’s stock.

MP Materials Trading Down 2.2 %

NYSE:MP opened at $26.22 on Friday. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $27.29. 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 has a 50-day moving average price of $23.24 and a 200-day moving average price of $19.60. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of -44.44 and a beta of 2.32.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $50.71 million. Equities analysts predict that MP Materials Corp. will post -0.19 EPS 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.