Geneos Wealth Management Inc. Increases Stake in MP Materials Corp. (NYSE:MP)

Geneos Wealth Management Inc. boosted its position in shares of MP Materials Corp. (NYSE:MP) by 205.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,749 shares of the company’s stock after purchasing an additional 1,849 shares during the period. Geneos Wealth Management Inc.’s holdings in MP Materials were worth $43,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MP. Segall Bryant & Hamill LLC boosted its position in MP Materials by 32.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after buying an additional 306,933 shares during the period. Quest Partners LLC boosted its holdings in shares of MP Materials by 806.0% in the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after buying an additional 38,204 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of MP Materials in the 3rd quarter worth approximately $2,300,000. Principal Financial Group Inc. raised its stake in shares of MP Materials by 35.7% during the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after acquiring an additional 159,200 shares in the last quarter. Finally, New Century Financial Group LLC purchased a new stake in MP Materials during the fourth quarter valued at approximately $922,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. BMO Capital Markets upped their target price on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their price target on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.45.

MP Materials Price Performance

NYSE:MP opened at $21.87 on Friday. The firm’s fifty day moving average is $19.43 and its two-hundred day moving average is $16.86. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -40.50 and a beta of 2.31. MP Materials Corp. has a one year low of $10.02 and a one year high of $24.01. 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 (NYSE:MP) last posted its earnings results on Thursday, November 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. The company had revenue of $62.93 million for the quarter, compared to analyst estimates of $45.30 million. During the same period last year, the business earned $0.02 earnings per share. Research analysts expect that MP Materials Corp. will post -0.54 EPS for the current year.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 300,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 18,043,076 shares of the company’s stock, valued at $364,830,996.72. This represents a 1.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the sale, the chief financial officer now directly owns 260,021 shares of the company’s stock, 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 sold a total of 884,862 shares of company stock worth $17,484,482 in the last three months. Company insiders own 12.60% of the company’s stock.

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.