MP Materials Corp. (NYSE:MP) Shares Bought by Invesco Ltd.

Invesco Ltd. lifted its holdings in shares of MP Materials Corp. (NYSE:MP) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,118,580 shares of the company’s stock after acquiring an additional 7,453 shares during the quarter. Invesco Ltd. owned about 1.30% of MP Materials worth $33,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its holdings in MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after purchasing an additional 701 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of MP Materials during the fourth quarter valued at about $40,000. Geneos Wealth Management Inc. increased its position 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 worth $43,000 after acquiring an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake 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 worth $51,000 after acquiring an additional 2,200 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in MP Materials by 69.3% in 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. 52.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Ryan Corbett sold 60,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the transaction, the chief financial officer now directly owns 230,100 shares of the company’s stock, valued at approximately $5,869,851. This trade represents a 20.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James H. Litinsky sold 489,918 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 15,153,158 shares of the company’s stock, valued at $405,650,039.66. The trade was a 3.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,330,015 shares of company stock valued at $34,559,781. Insiders own 12.60% of the company’s stock.

Wall Street Analyst Weigh In

MP has been the topic of a number of recent analyst reports. DA Davidson upped their target price on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. BMO Capital Markets upped their price target on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.61.

MP Materials Trading Down 4.9 %

MP Materials stock opened at $26.24 on Friday. The company has a market cap of $4.29 billion, a P/E ratio of -44.47 and a beta of 2.24. The firm’s 50-day moving average is $24.64 and its 200-day moving average is $21.13. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $29.72. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

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). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The company had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. On average, equities analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

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.