Captrust Financial Advisors Grows Position in MP Materials Corp. (NYSE:MP)

Captrust Financial Advisors increased its position in shares of MP Materials Corp. (NYSE:MP) by 5.0% during the third quarter, Holdings Channel reports. The institutional investor owned 11,734 shares of the company’s stock after buying an additional 557 shares during the quarter. Captrust Financial Advisors’ holdings in MP Materials were worth $207,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in MP Materials by 136.0% in the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after purchasing an additional 1,285 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in MP Materials by 3,803.8% in the second quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock valued at $52,000 after purchasing an additional 3,956 shares during the last quarter. Signaturefd LLC increased its stake in MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after purchasing an additional 3,262 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in MP Materials in the second quarter valued at approximately $72,000. Finally, KBC Group NV increased its stake in MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after purchasing an additional 1,246 shares during the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

MP Materials Stock Performance

MP Materials stock opened at $18.79 on Tuesday. 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 Corp. has a one year low of $10.02 and a one year high of $24.01. The stock’s 50 day moving average price is $19.13 and its 200 day moving average price is $15.75. The firm has a market capitalization of $3.07 billion, a PE ratio of -34.80 and a beta of 2.24.

MP Materials announced that its Board of Directors has authorized a stock buyback plan on Tuesday, September 3rd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to reacquire up to 13.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MP shares. Canaccord Genuity Group increased 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. DA Davidson increased their price objective on MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. BMO Capital Markets increased their price objective on MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, Robert W. Baird increased their price objective on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.10.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 15,195 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.30, for a total transaction of $278,068.50. Following the completion of the transaction, the chief financial officer now owns 295,021 shares in the company, valued at approximately $5,398,884.30. The trade was a 4.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.45, for a total value of $5,535,000.00. Following the transaction, the chief executive officer now owns 18,221,776 shares of the company’s stock, valued at $336,191,767.20. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 884,862 shares of company stock worth $17,484,482 in the last three months. 12.60% of the stock is owned by insiders.

MP Materials Company 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.