Cutter & CO Brokerage Inc. Sells 2,313 Shares of MP Materials Corp. (NYSE:MP)

Cutter & CO Brokerage Inc. cut its position in shares of MP Materials Corp. (NYSE:MP) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 187,785 shares of the company’s stock after selling 2,313 shares during the period. Cutter & CO Brokerage Inc. owned about 0.12% of MP Materials worth $2,929,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. raised its position in MP Materials by 205.4% during 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 in the last quarter. Nisa Investment Advisors LLC raised its position in MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after purchasing an additional 2,200 shares in the last quarter. Signaturefd LLC raised its position in MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after purchasing an additional 3,262 shares in the last quarter. GAMMA Investing LLC raised its position in MP Materials by 69.3% during the 4th 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 in the last quarter. Finally, KBC Group NV raised its position 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 worth $84,000 after acquiring an additional 1,246 shares in the last quarter. 52.55% of the stock is owned by institutional investors.

MP Materials Stock Down 2.9 %

Shares of MP stock opened at $23.57 on Wednesday. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $26.00. The stock’s fifty day moving average price is $20.67 and its 200 day moving average price is $18.22. 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 company has a market cap of $3.85 billion, a price-to-earnings ratio of -39.94 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 for the quarter, missing the consensus estimate 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 business had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. On average, research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other MP Materials news, CEO James H. Litinsky sold 234,667 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 17,608,409 shares in the company, valued at approximately $364,141,898.12. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction dated 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. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 655,890 shares of company stock worth $14,878,628 in the last ninety days. 12.60% of the stock is owned by insiders.

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.