Larson Financial Group LLC Cuts Stake in MP Materials Corp. (NYSE:MP)

Larson Financial Group LLC reduced its position in MP Materials Corp. (NYSE:MP) by 6.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 9,991 shares of the company’s stock after selling 698 shares during the period. Larson Financial Group LLC’s holdings in MP Materials were worth $143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in shares of MP Materials during the fourth quarter valued at $26,000. TFO Wealth Partners LLC grew its holdings in shares of MP Materials by 153,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after buying an additional 1,537 shares during the last quarter. CWM LLC grew its holdings in shares of MP Materials by 85.0% during the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after buying an additional 766 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of MP Materials by 2,316.7% during the first quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock valued at $33,000 after buying an additional 2,224 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in MP Materials by 2,335.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after purchasing an additional 1,985 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MP. Bank of America lowered their price target on shares of MP Materials from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of MP Materials in a report on Tuesday, May 14th. Jefferies Financial Group lowered their price target on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Finally, Morgan Stanley decreased their price objective on shares of MP Materials from $15.50 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Insider Activity at MP Materials

In other news, CFO Ryan Corbett sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the sale, the chief financial officer now owns 325,021 shares of the company’s stock, valued at approximately $5,502,605.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Andrew A. Mcknight sold 317,750 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the completion of the transaction, the director now owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the sale, the chief financial officer now owns 325,021 shares in the company, valued at $5,502,605.53. The disclosure for this sale can be found here. 12.60% of the stock is owned by corporate insiders.

MP Materials Trading Up 0.7 %

Shares of MP traded up $0.10 during mid-day trading on Wednesday, hitting $14.34. 1,763,692 shares of the company were exchanged, compared to its average volume of 3,401,606. MP Materials Corp. has a 1-year low of $12.09 and a 1-year high of $26.53. The company has a quick ratio of 9.28, a current ratio of 10.29 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average of $15.27 and a 200-day moving average of $15.86.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. The company had revenue of $48.68 million for the quarter, compared to analyst estimates of $46.00 million. Equities analysts forecast that MP Materials Corp. will post -0.28 EPS for the current year.

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.