MP Materials Corp. (NYSE:MP) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in MP Materials Corp. (NYSE:MP) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,816 shares of the company’s stock after selling 4,649 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MP Materials were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in MP Materials during the fourth quarter valued at approximately $40,000. Geneos Wealth Management Inc. increased its holdings in shares of MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after buying an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of 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 acquiring an additional 2,200 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of MP Materials by 69.3% during the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after acquiring an additional 1,545 shares in the last quarter. Finally, KBC Group NV grew its holdings 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 during the last quarter. Institutional investors own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Canaccord Genuity Group upped their target price 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 raised their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets boosted their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.83.

Insider Buying and Selling

In other news, CFO Ryan Corbett sold 15,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the sale, the chief financial officer now owns 214,812 shares in the company, valued at approximately $5,799,924. This represents a 6.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James H. Litinsky sold 161,175 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $4,342,054.50. Following the completion of the transaction, the chief executive officer now directly owns 14,352,689 shares in the company, valued at $386,661,441.66. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,112,316 shares of company stock worth $28,665,974. Corporate insiders own 12.60% of the company’s stock.

MP Materials Stock Down 0.1 %

MP opened at $26.80 on Thursday. The company has a market capitalization of $4.38 billion, a PE ratio of -45.42 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $27.29. The business has a 50-day moving average of $23.11 and a 200-day moving average of $19.56.

MP Materials (NYSE:MP) last issued its quarterly earnings data 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 net margin of 32.09% and a negative return on equity of 8.44%. The business had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. Equities research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

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.