MP Materials Corp. (NYSE:MP) Shares Sold by Stifel Financial Corp

Stifel Financial Corp trimmed its stake in shares of MP Materials Corp. (NYSE:MP) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,904 shares of the company’s stock after selling 15,713 shares during the quarter. Stifel Financial Corp owned 0.11% of MP Materials worth $3,317,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. GAMMA Investing LLC grew its position 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 buying an additional 1,285 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in MP Materials by 3,803.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock worth $52,000 after acquiring an additional 3,956 shares in the last quarter. Signaturefd LLC increased its position in shares of MP Materials by 817.5% in 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 during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of MP Materials in the 2nd quarter valued at $72,000. Finally, KBC Group NV lifted its position in shares of MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after purchasing an additional 1,246 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analysts Set New Price Targets

MP has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Canaccord Genuity Group raised their target price on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Robert W. Baird upped their price target on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 27th. BMO Capital Markets raised their price objective on shares of MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a report on Friday, October 25th. Finally, DA Davidson upped their target price on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.10.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 15,195 shares of the stock in a transaction dated Monday, November 18th. The shares were 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 directly owns 295,021 shares of the company’s stock, valued at $5,398,884.30. This represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James H. Litinsky sold 300,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the sale, the chief executive officer now owns 18,221,776 shares of the company’s stock, valued at approximately $336,191,767.20. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 884,862 shares of company stock worth $17,484,482 over the last 90 days. 12.60% of the stock is currently owned by insiders.

MP Materials Stock Down 2.2 %

MP opened at $18.37 on Wednesday. The business has a 50 day moving average price of $19.15 and a two-hundred day moving average price of $15.76. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $24.01. The company has a market cap of $3.00 billion, a PE ratio of -34.02 and a beta of 2.24. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

MP Materials announced that its board has approved a share repurchase plan on Tuesday, September 3rd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.