BNP Paribas Financial Markets Buys New Holdings in MP Materials Corp. (NYSE:MP)

BNP Paribas Financial Markets purchased a new position in shares of MP Materials Corp. (NYSE:MP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 954,257 shares of the company’s stock, valued at approximately $14,886,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its stake in MP Materials by 3.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company’s stock valued at $322,000 after buying an additional 662 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of MP Materials by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after purchasing an additional 701 shares in the last quarter. SWS Partners grew its holdings in shares of MP Materials by 0.4% in the 4th quarter. SWS Partners now owns 162,503 shares of the company’s stock worth $2,535,000 after purchasing an additional 707 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of MP Materials by 4.0% during the 4th quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company’s stock worth $605,000 after purchasing an additional 1,500 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in MP Materials by 69.3% during 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. Institutional investors own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MP shares. JPMorgan Chase & Co. dropped their price objective on shares of MP Materials from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. DA Davidson raised their price target on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Finally, BMO Capital Markets boosted their price objective on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.94.

Insider Buying and Selling

In related news, CFO Ryan Corbett sold 15,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now owns 214,812 shares in the company, valued at approximately $5,799,924. This represents a 6.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James H. Litinsky sold 489,918 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $26.77, for a total value of $13,115,104.86. Following the transaction, the chief executive officer now owns 15,153,158 shares in the company, valued at approximately $405,650,039.66. This trade represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 943,792 shares of company stock valued at $25,286,567 over the last ninety days. Insiders own 9.50% of the company’s stock.

MP Materials Stock Down 7.9 %

Shares of MP opened at $21.97 on Friday. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -37.24 and a beta of 2.24. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $29.72. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The business’s fifty day moving average price is $24.83 and its two-hundred day moving average price is $21.88.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The firm had revenue of $60.81 million during the quarter, compared to analyst estimates of $64.74 million. During the same quarter in the previous year, the business earned ($0.04) earnings per share. MP Materials’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

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.