Baillie Gifford & Co. Sells 1,276,108 Shares of MP Materials Corp. (NYSE:MP)

Baillie Gifford & Co. decreased its stake in shares of MP Materials Corp. (NYSE:MP) by 46.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,482,473 shares of the company’s stock after selling 1,276,108 shares during the period. Baillie Gifford & Co. owned 0.91% of MP Materials worth $23,127,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its holdings in shares of MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after buying an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after purchasing an additional 2,200 shares during the period. Signaturefd LLC grew 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 purchasing an additional 3,262 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of MP Materials by 69.3% in the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after purchasing an additional 1,545 shares during the period. Finally, KBC Group NV increased its holdings in shares of MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after purchasing an additional 1,246 shares during the period. Institutional investors own 52.55% of the company’s stock.

MP Materials Trading Down 2.7 %

Shares of MP opened at $23.72 on Tuesday. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $26.00. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of -43.92 and a beta of 2.34. The firm has a 50 day moving average price of $20.13 and a 200-day moving average price of $17.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

Analyst Ratings Changes

Several research firms recently commented on MP. JPMorgan Chase & Co. boosted their target price on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. BMO Capital Markets boosted their price objective on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Finally, Canaccord Genuity Group raised their target price on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, MP Materials presently has a consensus rating of “Moderate Buy” and an average target price of $22.45.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the sale, the chief financial officer now owns 260,021 shares in the company, valued at approximately $5,590,451.50. The trade was a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James H. Litinsky sold 234,667 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.68, for a total transaction of $4,852,913.56. Following the completion of the transaction, the chief executive officer now owns 17,608,409 shares in the company, valued at $364,141,898.12. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 955,890 shares of company stock valued at $20,944,628 over the last three months. Insiders own 12.60% of the company’s stock.

MP Materials 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.