Raymond James Financial Inc. Makes New Investment in MP Materials Corp. (NYSE:MP)

Raymond James Financial Inc. acquired a new stake in MP Materials Corp. (NYSE:MP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 402,818 shares of the company’s stock, valued at approximately $6,284,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in MP Materials during the 4th quarter worth $40,000. Geneos Wealth Management Inc. boosted its position 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 worth $43,000 after buying an additional 1,849 shares during the period. Nisa Investment Advisors LLC grew 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 in the last quarter. GAMMA Investing LLC raised its holdings 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 valued at $59,000 after buying an additional 1,545 shares during the period. Finally, KBC Group NV lifted its position in MP Materials by 33.0% during the 4th quarter. KBC Group NV now owns 6,297 shares of the company’s stock worth $98,000 after acquiring an additional 1,564 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Stock Up 2.6 %

Shares of NYSE:MP opened at $26.57 on Tuesday. The firm has a market cap of $4.34 billion, a PE ratio of -45.03 and a beta of 2.32. The company has a fifty day simple moving average of $23.50 and a 200 day simple moving average of $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. MP Materials Corp. has a 12-month low of $10.02 and a 12-month 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 the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The company had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. On average, equities research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Activity at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the transaction, the chief financial officer now owns 214,812 shares of the company’s stock, valued at $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James H. Litinsky sold 489,918 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $26.77, for a total transaction of $13,115,104.86. Following the sale, the chief executive officer now directly owns 15,153,158 shares in the company, valued at $405,650,039.66. This trade represents a 3.13 % decrease in their ownership of the stock. 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 over the last three months. 12.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BMO Capital Markets increased their price objective on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research report on Thursday, March 20th. Canaccord Genuity Group raised their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, DA Davidson boosted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus 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.