Amundi Sells 62,800 Shares of MP Materials Corp. (NYSE:MP)

Amundi lowered its stake in MP Materials Corp. (NYSE:MP) by 83.7% in the fourth quarter, Holdings Channel reports. The fund owned 12,200 shares of the company’s stock after selling 62,800 shares during the quarter. Amundi’s holdings in MP Materials were worth $190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MP. SBI Securities Co. Ltd. bought a new position in shares of MP Materials in the fourth quarter worth about $40,000. Geneos Wealth Management Inc. increased its stake 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 during the period. Nisa Investment Advisors LLC increased its stake in shares of MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after buying an additional 2,200 shares during the period. GAMMA Investing LLC increased its stake in shares of MP Materials by 69.3% in the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock valued at $59,000 after buying an additional 1,545 shares during the period. Finally, KBC Group NV increased its stake in shares of 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 buying an additional 1,246 shares during the period. Institutional investors own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were 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 of the company’s stock, valued at $5,799,924. This trade represents a 6.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO James H. Litinsky sold 386,223 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the sale, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,112,316 shares of company stock valued at $28,665,974 in the last quarter. 12.60% of the stock is currently owned by company insiders.

MP Materials Stock Performance

NYSE:MP opened at $25.81 on Friday. The company has a market capitalization of $4.22 billion, a PE ratio of -43.75 and a beta of 2.32. The company has a 50 day simple moving average of $23.36 and a two-hundred day simple moving average of $19.69. 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 fifty-two week low of $10.02 and a fifty-two week high of $27.29.

MP Materials (NYSE:MP) last released its earnings results 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 analyst estimates of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. Research analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MP shares. DA Davidson upped their price objective on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets upped their price objective on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Canaccord Genuity Group upped their price objective 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.61.

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.