D.A. Davidson & CO. Sells 15,402 Shares of MP Materials Corp. (NYSE:MP)

D.A. Davidson & CO. cut its holdings in shares of MP Materials Corp. (NYSE:MP) by 26.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,577 shares of the company’s stock after selling 15,402 shares during the quarter. D.A. Davidson & CO.’s holdings in MP Materials were worth $664,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MP. Segall Bryant & Hamill LLC raised its holdings in 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 acquiring an additional 306,933 shares during the period. Principal Financial Group Inc. raised its holdings in MP Materials by 48.7% during the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company’s stock valued at $14,035,000 after acquiring an additional 294,806 shares during the period. Public Sector Pension Investment Board bought a new stake in MP Materials during the third quarter valued at about $4,584,000. Bernzott Capital Advisors raised its holdings in MP Materials by 43.4% during the third quarter. Bernzott Capital Advisors now owns 689,270 shares of the company’s stock valued at $12,166,000 after acquiring an additional 208,586 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in MP Materials during the third quarter valued at about $2,300,000. 52.55% of the stock is owned by institutional investors.

MP Materials Trading Up 0.1 %

Shares of NYSE MP opened at $24.33 on Tuesday. The business’s 50 day moving average is $20.56 and its two-hundred day moving average is $18.13. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $26.00. The stock has a market capitalization of $3.97 billion, a P/E ratio of -41.23 and a beta of 2.34.

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). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The business had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. As a group, research analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

MP has been the topic of several research reports. Canaccord Genuity Group lifted their target price 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 target price 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.45.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 234,667 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.68, for a total transaction of $4,852,913.56. Following the completion of the transaction, the chief executive officer now owns 17,608,409 shares in the company, valued at $364,141,898.12. The trade was a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the transaction, the chief financial officer now owns 260,021 shares of the company’s stock, 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. Insiders sold 655,890 shares of company stock worth $14,878,628 over the last 90 days. Company insiders own 12.60% of the company’s stock.

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.