MP Materials Corp. (NYSE:MP) Shares Purchased by Baird Financial Group Inc.

Baird Financial Group Inc. grew its holdings in shares of MP Materials Corp. (NYSE:MP) by 811.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,992 shares of the company’s stock after buying an additional 67,657 shares during the period. Baird Financial Group Inc.’s holdings in MP Materials were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after buying an additional 701 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of MP Materials during the fourth quarter valued at approximately $40,000. Geneos Wealth Management Inc. raised its holdings in shares of MP Materials by 205.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after buying an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of MP Materials by 204.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after buying an additional 2,200 shares during the last quarter. Finally, IMG Wealth Management Inc. bought a new stake in shares of MP Materials during the fourth quarter valued at approximately $66,000. Institutional investors own 52.55% of the company’s stock.

Insiders Place Their Bets

In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the transaction, the chief executive officer now directly owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. The trade was a 1.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the transaction, the chief financial officer now owns 230,100 shares in the company, valued at approximately $5,869,851. The trade was a 20.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 943,792 shares of company stock worth $25,286,567. 9.50% of the stock is owned by insiders.

MP Materials Trading Down 1.7%

MP Materials stock opened at $20.78 on Wednesday. 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 firm has a market cap of $3.40 billion, a price-to-earnings ratio of -35.22 and a beta of 2.24. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $29.72. The firm’s 50 day moving average price is $24.67 and its two-hundred day moving average price is $21.91.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MP shares. JPMorgan Chase & Co. cut their price target on MP Materials from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday. DA Davidson boosted their target price on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. Finally, BMO Capital Markets boosted their target price on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.61.

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.