SBI Securities Co. Ltd. Takes Position in MP Materials Corp. (NYSE:MP)

SBI Securities Co. Ltd. purchased a new stake in shares of MP Materials Corp. (NYSE:MP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,557 shares of the company’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MP. Geneos Wealth Management Inc. increased 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 acquiring an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after buying an additional 2,200 shares in the last quarter. GAMMA Investing LLC increased its holdings in MP Materials by 69.3% in the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after buying an additional 1,545 shares in the last quarter. KBC Group NV increased its holdings in MP Materials by 35.7% in 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 in the last quarter. Finally, Wedmont Private Capital bought a new stake in MP Materials in the 4th quarter worth about $159,000. 52.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction dated 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 transaction, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at $375,590,254.76. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.60% of the company’s stock.

MP Materials Trading Down 1.7 %

Shares of NYSE:MP opened at $24.00 on Wednesday. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -40.67 and a beta of 2.32. 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 stock’s 50-day simple moving average is $22.20 and its two-hundred day simple moving average is $19.05. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $26.00.

MP Materials (NYSE:MP) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. Analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

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

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.