Bernzott Capital Advisors Has $6.66 Million Stake in MP Materials Corp. (NYSE:MP)

Bernzott Capital Advisors lowered its holdings in MP Materials Corp. (NYSE:MP) by 38.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 426,789 shares of the company’s stock after selling 262,481 shares during the quarter. MP Materials comprises approximately 3.3% of Bernzott Capital Advisors’ holdings, making the stock its 11th biggest holding. Bernzott Capital Advisors’ holdings in MP Materials were worth $6,658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MP. Millennium Management LLC grew its holdings in shares of MP Materials by 425.5% during the 2nd quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock worth $10,201,000 after purchasing an additional 648,838 shares in the last quarter. Bank of Montreal Can lifted its position in MP Materials by 188.1% during the second quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock worth $11,462,000 after purchasing an additional 586,906 shares during the period. Segall Bryant & Hamill LLC grew its stake in MP Materials by 32.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after buying an additional 306,933 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in MP Materials during the third quarter worth about $4,584,000. Finally, Clearbridge Investments LLC grew its stake in MP Materials by 26.3% during the second quarter. Clearbridge Investments LLC now owns 847,240 shares of the company’s stock worth $10,785,000 after buying an additional 176,219 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Trading Up 2.7 %

MP opened at $21.17 on Friday. The company’s 50 day moving average is $18.91 and its 200-day moving average is $16.30. The company has a market cap of $3.45 billion, a P/E ratio of -39.19 and a beta of 2.31. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $24.01. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88.

Insider Activity at MP Materials

In related news, CFO Ryan Corbett sold 35,000 shares of the firm’s stock in a transaction that occurred on 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 $5,590,451.50. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James H. Litinsky sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the transaction, the chief executive officer now owns 18,221,776 shares of the company’s stock, valued at approximately $336,191,767.20. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 884,862 shares of company stock worth $17,484,482 in the last quarter. 12.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MP has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. DA Davidson increased their price objective on shares of MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. BMO Capital Markets increased 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. Morgan Stanley increased their price objective on shares of MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.10.

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.