Sprott Inc. Purchases 37,657 Shares of MP Materials Corp. (NYSE:MP)

Sprott Inc. raised its position in shares of MP Materials Corp. (NYSE:MP) by 177.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,903 shares of the company’s stock after acquiring an additional 37,657 shares during the quarter. Sprott Inc.’s holdings in MP Materials were worth $919,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of MP. Geneos Wealth Management Inc. lifted its stake in shares of MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after purchasing an additional 1,849 shares during the period. Nisa Investment Advisors LLC lifted its stake in MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after buying an additional 2,200 shares during the period. GAMMA Investing LLC boosted its holdings in shares of MP Materials by 69.3% during the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after buying an additional 1,545 shares in the last quarter. Signaturefd LLC grew its position in shares of MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after buying an additional 3,262 shares during the period. Finally, KBC Group NV increased its stake in shares of MP Materials by 35.7% in the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after acquiring an additional 1,246 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 386,223 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total value of $9,273,214.23. Following the transaction, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ryan Corbett sold 35,000 shares of the 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 sale, the chief financial officer now directly owns 260,021 shares of the company’s stock, valued at $5,590,451.50. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 655,890 shares of company stock valued at $14,878,628. 12.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MP. Canaccord Genuity Group increased their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets upped their price objective on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.45.

MP Materials Trading Down 2.9 %

NYSE:MP opened at $23.57 on Wednesday. MP Materials Corp. has a one year low of $10.02 and a one year high of $26.00. The company has a market cap of $3.85 billion, a PE ratio of -39.94 and a beta of 2.34. 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 firm has a 50-day moving average of $20.67 and a 200-day moving average of $18.22.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. As a group, equities research analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal 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.