Private Advisor Group LLC Purchases 107,738 Shares of MP Materials Corp. (NYSE:MP)

Private Advisor Group LLC boosted its position in shares of MP Materials Corp. (NYSE:MP) by 76.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 248,591 shares of the company’s stock after acquiring an additional 107,738 shares during the quarter. Private Advisor Group LLC’s holdings in MP Materials were worth $3,878,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Oak Family Advisors LLC purchased a new position in shares of MP Materials during the fourth quarter valued at approximately $530,000. Segall Bryant & Hamill LLC increased its position in MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after purchasing an additional 306,933 shares during the period. Quest Partners LLC raised its holdings in MP Materials by 806.0% in the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock worth $758,000 after purchasing an additional 38,204 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of MP Materials by 167.3% in the 4th quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock worth $560,000 after purchasing an additional 22,473 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of MP Materials during the 3rd quarter valued at about $2,300,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Trading Up 4.6 %

NYSE MP opened at $24.25 on Monday. The stock’s fifty day moving average price is $20.45 and its 200-day moving average price is $18.03. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The stock has a market cap of $3.96 billion, a P/E ratio of -41.09 and a beta of 2.34. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $26.00.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The firm had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. As a group, equities analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Activity at MP Materials

In related news, 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 transaction of $752,500.00. Following the transaction, the chief financial officer now owns 260,021 shares in the company, valued at $5,590,451.50. This represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,043,076 shares of the company’s stock, valued at approximately $364,830,996.72. This trade represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 955,890 shares of company stock valued at $20,944,628 over the last 90 days. Corporate insiders own 12.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. BMO Capital Markets raised their price objective 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. Canaccord Genuity Group raised their target price on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.45.

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.