MP Materials Corp. (NYSE:MP) Shares Purchased by KBC Group NV

KBC Group NV raised its position in MP Materials Corp. (NYSE:MP) by 35.7% during the third quarter, Holdings Channel reports. The firm owned 4,733 shares of the company’s stock after buying an additional 1,246 shares during the quarter. KBC Group NV’s holdings in MP Materials were worth $84,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MP. GAMMA Investing LLC raised its holdings in shares of MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after buying an additional 1,285 shares during the period. Signaturefd LLC grew its position in MP Materials by 817.5% in the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after acquiring an additional 3,262 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in MP Materials by 3,803.8% during the second quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock worth $52,000 after purchasing an additional 3,956 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of MP Materials during the second quarter worth about $72,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of MP Materials in the second quarter valued at approximately $100,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. DA Davidson boosted their target price on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley upped their price target on MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Finally, Canaccord Genuity Group decreased their price objective on MP Materials from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.40.

MP Materials Trading Up 5.0 %

MP opened at $19.66 on Friday. 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 one year low of $10.02 and a one year high of $20.85. The company has a market cap of $3.21 billion, a P/E ratio of -36.41 and a beta of 2.23. The business’s 50-day simple moving average is $17.74 and its 200-day simple moving average is $15.39.

MP Materials announced that its board has approved a stock repurchase plan on Tuesday, September 3rd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to reacquire up to 13.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at MP Materials

In other news, CFO Ryan Corbett sold 15,195 shares of MP Materials stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $18.30, for a total transaction of $278,068.50. Following the sale, the chief financial officer now owns 295,021 shares in the company, valued at approximately $5,398,884.30. The trade was a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James H. Litinsky sold 300,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.45, for a total value of $5,535,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,221,776 shares of the company’s stock, valued at approximately $336,191,767.20. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by corporate 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.