25,553 Shares in MP Materials Corp. (NYSE:MP) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in MP Materials Corp. (NYSE:MP) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 25,553 shares of the company’s stock, valued at approximately $399,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of MP Materials in the fourth quarter valued at approximately $40,000. Geneos Wealth Management Inc. increased its holdings in MP Materials by 205.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after purchasing an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC raised its position in MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after purchasing an additional 2,200 shares during the last quarter. GAMMA Investing LLC boosted its stake in MP Materials by 69.3% in the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after purchasing an additional 1,545 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of MP Materials by 33.0% during the fourth quarter. KBC Group NV now owns 6,297 shares of the company’s stock worth $98,000 after purchasing an additional 1,564 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on MP. BMO Capital Markets lifted their price target on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a report on Thursday, March 20th. DA Davidson raised their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. Finally, Canaccord Genuity Group upped their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, MP Materials currently has an average rating of “Moderate Buy” and an average target price of $23.61.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 161,175 shares of the 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 sale, the chief executive officer now directly owns 14,352,689 shares in the company, valued at $386,661,441.66. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the transaction, the chief financial officer now directly owns 214,812 shares in the company, valued at $5,799,924. The trade was a 6.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,112,316 shares of company stock worth $28,665,974 in the last three months. Insiders own 12.60% of the company’s stock.

MP Materials Stock Up 2.6 %

Shares of NYSE MP opened at $26.57 on Tuesday. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $27.29. The firm’s 50-day moving average is $23.50 and its 200-day moving average is $19.87. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $4.34 billion, a PE ratio of -45.03 and a beta of 2.32.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. Equities analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

About MP Materials

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.