Zurcher Kantonalbank Zurich Cantonalbank Sells 4,649 Shares of MP Materials Corp. (NYSE:MP)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of MP Materials Corp. (NYSE:MP) by 5.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 73,816 shares of the company’s stock after selling 4,649 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MP Materials were worth $1,152,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in MP Materials during the 4th quarter valued at $6,284,000. Segall Bryant & Hamill LLC raised its position in shares of MP Materials by 32.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after buying an additional 306,933 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of MP Materials by 48.7% in the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company’s stock valued at $14,035,000 after buying an additional 294,806 shares during the period. Public Sector Pension Investment Board acquired a new stake in MP Materials during the third quarter worth about $4,584,000. Finally, Charles Schwab Investment Management Inc. increased its stake in MP Materials by 15.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company’s stock valued at $16,843,000 after acquiring an additional 144,661 shares during the period. 52.55% of the stock is owned by institutional investors.

Insider Activity at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the completion of the transaction, the chief financial officer now directly owns 230,100 shares of the company’s stock, valued at approximately $5,869,851. The trade was a 20.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 489,918 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 15,153,158 shares of the company’s stock, valued at $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 1,112,316 shares of company stock valued at $28,665,974 in the last three months. Corporate insiders own 12.60% of the company’s stock.

MP Materials Stock Down 0.1 %

MP opened at $26.80 on Thursday. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -45.42 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 firm’s 50-day simple moving average is $23.11 and its 200-day simple moving average is $19.56. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $27.29.

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

Analysts Set New Price Targets

A number of analysts have commented on MP shares. 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. BMO Capital Markets lifted their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Finally, DA Davidson increased their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.83.

About MP Materials

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.