Miracle Mile Advisors LLC Purchases 1,750 Shares of MP Materials Corp. (NYSE:MP)

Miracle Mile Advisors LLC raised its position in shares of MP Materials Corp. (NYSE:MP) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,900 shares of the company’s stock after purchasing an additional 1,750 shares during the period. Miracle Mile Advisors LLC’s holdings in MP Materials were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Millennium Management LLC raised its holdings in shares of MP Materials by 425.5% in the second quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock valued at $10,201,000 after acquiring an additional 648,838 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of MP Materials by 188.1% in the 2nd quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock valued at $11,462,000 after purchasing an additional 586,906 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of MP Materials by 32.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after purchasing an additional 306,933 shares during the period. Public Sector Pension Investment Board bought a new position in shares of MP Materials during the third quarter valued at approximately $4,584,000. Finally, Bernzott Capital Advisors increased its holdings in MP Materials by 43.4% during the third quarter. Bernzott Capital Advisors now owns 689,270 shares of the company’s stock valued at $12,166,000 after buying an additional 208,586 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on MP. DA Davidson upped their target price on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Canaccord Genuity Group raised their price objective on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their target price on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Robert W. Baird raised their price target on shares of MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, BMO Capital Markets boosted their price objective on shares of MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.10.

Insider Transactions at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 15,195 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.30, for a total transaction of $278,068.50. Following the completion of the transaction, the chief financial officer now directly owns 295,021 shares of the company’s stock, valued at approximately $5,398,884.30. This trade represents a 4.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James H. Litinsky sold 300,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,221,776 shares in the company, valued at $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. Over the last ninety days, insiders sold 884,862 shares of company stock worth $17,484,482. Company insiders own 12.60% of the company’s stock.

MP Materials Stock Up 2.7 %

NYSE:MP opened at $21.17 on Friday. 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 twelve month low of $10.02 and a twelve month high of $24.01. The company has a market cap of $3.45 billion, a PE ratio of -39.19 and a beta of 2.31. The company’s 50 day moving average is $18.91 and its two-hundred day moving average is $16.30.

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.