Mirova Has $1.14 Million Stake in MP Materials Corp. (NYSE:MP)

Mirova lessened its stake in MP Materials Corp. (NYSE:MP) by 12.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,897 shares of the company’s stock after selling 10,687 shares during the period. Mirova’s holdings in MP Materials were worth $1,137,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of MP Materials in the 4th quarter worth approximately $6,284,000. Proficio Capital Partners LLC acquired a new position in shares of MP Materials in the fourth quarter valued at $399,000. Oak Family Advisors LLC acquired a new position in shares of MP Materials in the fourth quarter valued at $530,000. KLP Kapitalforvaltning AS bought a new position in MP Materials in the fourth quarter worth $388,000. Finally, SG Americas Securities LLC boosted its stake in MP Materials by 167.3% during the fourth quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock worth $560,000 after buying an additional 22,473 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MP shares. 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. BMO Capital Markets increased 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 report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.61.

MP Materials Price Performance

Shares of MP Materials stock opened at $26.24 on Friday. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $29.72. The firm’s 50-day moving average price is $24.67 and its two-hundred day moving average price is $21.22. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -44.47 and a beta of 2.24.

MP Materials (NYSE:MP) last released its quarterly 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). The business had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. On average, equities analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 15,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the transaction, the chief financial officer now directly owns 214,812 shares in the company, valued at approximately $5,799,924. This trade represents a 6.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 199,180 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $27.08, for a total value of $5,393,794.40. Following the sale, the chief executive officer now owns 13,643,076 shares of the company’s stock, valued at approximately $369,454,498.08. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,330,015 shares of company stock valued at $34,559,781 in the last 90 days. 12.60% of the stock is currently owned by insiders.

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.