Cladis Investment Advisory LLC Raises Holdings in MP Materials Corp. (NYSE:MP)

Cladis Investment Advisory LLC boosted its stake in MP Materials Corp. (NYSE:MP) by 4.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,090 shares of the company’s stock after buying an additional 3,550 shares during the quarter. Cladis Investment Advisory LLC’s holdings in MP Materials were worth $1,449,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Millennium Management LLC raised its position 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 buying an additional 648,838 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of MP Materials by 188.1% during the 2nd quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock worth $11,462,000 after purchasing an additional 586,906 shares during the period. Pinnacle Associates Ltd. boosted its holdings in shares of MP Materials by 151.1% during the second quarter. Pinnacle Associates Ltd. now owns 815,561 shares of the company’s stock worth $10,382,000 after purchasing an additional 490,767 shares during the last quarter. Regal Partners Ltd grew its position in shares of MP Materials by 275.4% in the second quarter. Regal Partners Ltd now owns 464,016 shares of the company’s stock valued at $5,907,000 after purchasing an additional 340,426 shares during the period. Finally, Segall Bryant & Hamill LLC increased its stake in MP Materials by 32.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after purchasing an additional 306,933 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insiders Place Their Bets

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the completion of the sale, the chief executive officer now owns 18,043,076 shares in the company, valued at $364,830,996.72. This trade represents a 1.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 650,195 shares of company stock worth $12,631,569 in the last 90 days. 12.60% of the stock is owned by company insiders.

MP Materials Price Performance

MP stock opened at $21.07 on Monday. The firm has a market cap of $3.44 billion, a P/E ratio of -39.02 and a beta of 2.23. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $21.70. The stock has a 50-day simple moving average of $18.41 and a 200-day simple moving average of $15.51.

MP Materials announced that its board has initiated a stock repurchase plan on Tuesday, September 3rd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have commented on MP. DA Davidson lifted their price target on MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. upped their price target on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Robert W. Baird lifted 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. Morgan Stanley upped their price objective on MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Finally, BMO Capital Markets increased 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. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.10.

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.