MP Materials Corp. (NYSE:MP) Holdings Increased by New York State Teachers Retirement System

New York State Teachers Retirement System increased its stake in MP Materials Corp. (NYSE:MP) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,900 shares of the company’s stock after acquiring an additional 6,800 shares during the period. New York State Teachers Retirement System’s holdings in MP Materials were worth $1,558,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MP. Geneos Wealth Management Inc. lifted its holdings in shares of MP Materials by 205.4% in 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 period. Nisa Investment Advisors LLC increased its holdings in shares of MP Materials by 204.7% in 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 in the last quarter. Signaturefd LLC boosted its stake in shares of MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after acquiring an additional 3,262 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of MP Materials by 69.3% during the fourth 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. Finally, KBC Group NV raised its holdings in MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after buying an additional 1,246 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MP shares. BMO Capital Markets upped their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Canaccord Genuity Group raised their price objective on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, MP Materials currently has an average rating of “Moderate Buy” and an average price target of $22.45.

Insider Activity

In other news, CEO James H. Litinsky sold 386,223 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the sale, the chief executive officer now directly owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the sale, the chief financial officer now directly owns 260,021 shares in the company, valued at $5,590,451.50. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 955,890 shares of company stock valued at $20,944,628. 12.60% of the stock is owned by company insiders.

MP Materials Stock Up 4.6 %

MP Materials stock opened at $24.25 on Friday. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $26.00. The firm’s fifty day simple moving average is $20.45 and its 200-day simple moving average is $17.98. 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 market capitalization of $3.96 billion, a P/E ratio of -41.09 and a beta of 2.34.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The firm had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. Sell-side analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal 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.