Commonwealth Equity Services LLC Sells 7,588 Shares of MP Materials Corp. (NYSE:MP)

Commonwealth Equity Services LLC decreased its stake in MP Materials Corp. (NYSE:MP) by 18.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,410 shares of the company’s stock after selling 7,588 shares during the quarter. Commonwealth Equity Services LLC’s holdings in MP Materials were worth $537,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in MP Materials in the 4th quarter worth about $6,284,000. Principal Financial Group Inc. raised its holdings 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 worth $14,035,000 after buying an additional 294,806 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of MP Materials during the 4th quarter worth approximately $4,550,000. Wealthfront Advisers LLC purchased a new position in MP Materials during the 4th quarter valued at $4,484,000. Finally, Charles Schwab Investment Management Inc. grew its position in MP Materials by 15.5% in the 4th 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 last quarter. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Down 7.3 %

Shares of MP Materials stock opened at $23.00 on Friday. 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 stock has a market cap of $3.76 billion, a price-to-earnings ratio of -38.98 and a beta of 2.24. The firm’s 50-day moving average is $24.30 and its two-hundred day moving average is $20.50. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $27.29.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. DA Davidson boosted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.61.

Insider Buying and Selling 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 in the company, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction dated Tuesday, February 4th. The shares were 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 of the company’s stock, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,130,835 shares of company stock valued at $29,165,987. 12.60% of the stock is currently owned by corporate insiders.

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.