MP Materials Corp. (NYSE:MP) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. cut its holdings in MP Materials Corp. (NYSE:MP) by 47.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,197 shares of the company’s stock after selling 11,010 shares during the quarter. Oakworth Capital Inc.’s holdings in MP Materials were worth $190,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sei Investments Co. grew its holdings in shares of MP Materials by 23.1% during the second quarter. Sei Investments Co. now owns 13,389 shares of the company’s stock worth $170,000 after buying an additional 2,515 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of MP Materials in the 2nd quarter valued at approximately $219,000. Algert Global LLC acquired a new position in shares of MP Materials in the second quarter valued at approximately $182,000. GAMMA Investing LLC raised its stake in shares of MP Materials by 136.0% during the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after purchasing an additional 1,285 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of MP Materials by 25.7% during the third quarter. Essex Investment Management Co. LLC now owns 118,648 shares of the company’s stock worth $2,094,000 after purchasing an additional 24,231 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MP shares. JPMorgan Chase & Co. upped their price objective on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. BMO Capital Markets increased their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Finally, Canaccord Genuity Group lifted their price objective on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

Insider Buying and Selling at MP Materials

In related news, CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 15,643,076 shares in the company, valued at $375,590,254.76. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ryan Corbett sold 35,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 260,021 shares in the company, valued at approximately $5,590,451.50. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,271,085 shares of company stock valued at $26,757,696. Insiders own 12.60% of the company’s stock.

MP Materials Trading Up 2.2 %

Shares of MP Materials stock opened at $24.08 on Friday. The company has a 50-day moving average of $19.66 and a two-hundred day moving average of $17.10. The stock has a market cap of $3.93 billion, a PE ratio of -44.60 and a beta of 2.34. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $24.80.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The firm had revenue of $62.93 million during the quarter, compared to analysts’ expectations of $45.30 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. During the same period in the previous year, the business earned $0.02 earnings per share. On average, research analysts anticipate that MP Materials Corp. will post -0.54 EPS for the current fiscal year.

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.