ARS Investment Partners LLC Trims Stake in MP Materials Corp. (NYSE:MP)

ARS Investment Partners LLC lowered its holdings in MP Materials Corp. (NYSE:MP) by 20.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 961,373 shares of the company’s stock after selling 247,188 shares during the period. MP Materials makes up 1.4% of ARS Investment Partners LLC’s investment portfolio, making the stock its 26th largest position. ARS Investment Partners LLC owned about 0.59% of MP Materials worth $14,997,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in MP Materials by 136.0% in the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after purchasing an additional 1,285 shares in the last quarter. Signaturefd LLC raised its position in shares of MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after buying an additional 3,262 shares in the last quarter. KBC Group NV raised its position in shares of MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after buying an additional 1,246 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of MP Materials during the 2nd quarter worth $72,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in MP Materials in the second quarter worth $100,000. Institutional investors own 52.55% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 18,221,776 shares in the company, valued at $336,191,767.20. The trade was a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the transaction, the chief financial officer now owns 260,021 shares in the company, valued at $5,590,451.50. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 884,862 shares of company stock worth $17,484,482. 12.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

MP Materials Stock Down 1.0 %

Shares of NYSE:MP opened at $20.96 on Tuesday. The company has a quick ratio of 6.13, a current ratio of 6.93 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 $24.01. The company has a 50-day moving average price of $18.96 and a 200-day moving average price of $16.42.

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.