MP Materials Corp. (NYSE:MP) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lowered its stake in shares of MP Materials Corp. (NYSE:MP) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,198 shares of the company’s stock after selling 3,405 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in MP Materials were worth $128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MP. Envestnet Asset Management Inc. increased its holdings in shares of 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 acquiring an additional 662 shares during the period. Quadrant Capital Group LLC increased its holdings 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 acquiring an additional 701 shares during the period. SWS Partners increased 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 valued at $2,535,000 after acquiring an additional 707 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of MP Materials by 4.0% in the 4th quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company’s stock valued at $605,000 after acquiring an additional 1,500 shares during the period. Finally, KBC Group NV increased its holdings in shares of MP Materials by 33.0% in the 4th quarter. KBC Group NV now owns 6,297 shares of the company’s stock valued at $98,000 after acquiring an additional 1,564 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

MP has been the topic of a number of recent research reports. DA Davidson lifted their target price on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. lowered their price objective on shares of MP Materials from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, May 12th. Finally, BMO Capital Markets lifted their price objective on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.61.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the sale, the chief financial officer now directly owns 230,100 shares in the company, valued at approximately $5,869,851. The trade was a 20.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James H. Litinsky sold 489,918 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $26.77, for a total transaction of $13,115,104.86. Following the sale, the chief executive officer now owns 15,153,158 shares in the company, valued at $405,650,039.66. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 943,792 shares of company stock worth $25,286,567. Corporate insiders own 12.60% of the company’s stock.

MP Materials Stock Performance

NYSE:MP opened at $21.32 on Friday. The firm’s fifty day moving average price is $24.47 and its 200 day moving average price is $21.94. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $29.72. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -36.14 and a beta of 2.24.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $60.81 million for the quarter, compared to analysts’ expectations of $64.74 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. MP Materials’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. On average, sell-side analysts expect 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.