Swiss National Bank Increases Holdings in MP Materials Corp. (NYSE:MP)

Swiss National Bank raised its stake in MP Materials Corp. (NYSE:MP) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,900 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. Swiss National Bank’s holdings in MP Materials were worth $3,805,000 at the end of the most recent quarter.

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

MP Materials Stock Performance

MP stock opened at $26.95 on Wednesday. The firm has a market cap of $4.40 billion, a P/E ratio of -45.68 and a beta of 2.32. The stock’s 50 day simple moving average is $23.66 and its 200 day simple moving average is $19.96. 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 issued 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). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. As a group, equities research analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MP shares. Canaccord Genuity Group lifted their price objective on 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 lifted their price target on shares of MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research note on Thursday, March 20th. Finally, DA Davidson increased their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and an average target price of $23.61.

Insider Buying and Selling

In other news, CFO Ryan Corbett sold 15,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James H. Litinsky sold 489,918 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 15,153,158 shares in the company, valued at approximately $405,650,039.66. This trade represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,112,316 shares of company stock worth $28,665,974 over the last quarter. 12.60% of the stock is owned by company insiders.

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.