Federated Hermes Inc. Sells 690 Shares of MP Materials Corp. (NYSE:MP)

Federated Hermes Inc. lessened its holdings in MP Materials Corp. (NYSE:MP) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,581 shares of the company’s stock after selling 690 shares during the period. Federated Hermes Inc. owned about 0.05% of MP Materials worth $1,366,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MP. Victory Capital Management Inc. grew its position in MP Materials by 3.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company’s stock worth $37,945,000 after acquiring an additional 73,297 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of MP Materials by 15.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company’s stock worth $16,843,000 after purchasing an additional 144,661 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of MP Materials by 48.7% in the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company’s stock valued at $14,035,000 after buying an additional 294,806 shares during the period. Raymond James Financial Inc. bought a new position in MP Materials in the 4th quarter valued at approximately $6,284,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in MP Materials during the 4th quarter worth approximately $4,550,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Up 21.8 %

Shares of MP Materials stock opened at $27.63 on Tuesday. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of -46.83 and a beta of 2.24. The stock’s 50-day moving average is $24.54 and its 200 day moving average is $21.00. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a one year low of $10.02 and a one year high of $28.40.

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

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 18,519 shares of MP Materials stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $27.00, for a total value of $500,013.00. Following the completion of the sale, the chief executive officer now owns 13,842,256 shares of the company’s stock, valued at approximately $373,740,912. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 60,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the transaction, the chief financial officer now owns 230,100 shares in the company, valued at approximately $5,869,851. The trade was a 20.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,130,835 shares of company stock worth $29,165,987. 12.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on MP. BMO Capital Markets raised their price target on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. DA Davidson raised their target price on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.61.

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.