MP Materials Corp. (NYSE:MP) Stock Holdings Lessened by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. cut its stake in shares of MP Materials Corp. (NYSE:MP) by 21.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,000 shares of the company’s stock after selling 1,600 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in MP Materials were worth $94,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Sei Investments Co. lifted its holdings in shares of MP Materials by 23.1% in the second quarter. Sei Investments Co. now owns 13,389 shares of the company’s stock valued at $170,000 after purchasing an additional 2,515 shares in the last quarter. Marshall Wace LLP purchased a new stake in MP Materials in the 2nd quarter worth about $219,000. Millennium Management LLC boosted its position in MP Materials by 425.5% during the 2nd quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock worth $10,201,000 after acquiring an additional 648,838 shares during the period. Algert Global LLC purchased a new position in MP Materials during the 2nd quarter valued at about $182,000. Finally, GAMMA Investing LLC increased its holdings in shares of MP Materials by 136.0% in the 3rd 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 during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on MP shares. JPMorgan Chase & Co. boosted their price objective on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. BMO Capital Markets upped their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Finally, Canaccord Genuity Group increased their price objective on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Four investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

MP Materials Price Performance

Shares of NYSE:MP opened at $24.52 on Wednesday. The stock has a market capitalization of $4.00 billion, a P/E ratio of -45.40 and a beta of 2.34. The business has a 50-day moving average of $19.54 and a two-hundred day moving average of $17.01. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $24.78. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. The company had revenue of $62.93 million during the quarter, compared to analyst estimates of $45.30 million. During the same quarter last year, the firm posted $0.02 earnings per share. On average, equities research analysts predict that MP Materials Corp. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $18.45, for a total value of $5,535,000.00. Following the transaction, the chief executive officer now directly owns 18,221,776 shares of the company’s stock, valued at $336,191,767.20. The trade was a 1.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ryan Corbett sold 35,000 shares of the 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 sale, the chief financial officer now directly owns 260,021 shares of the company’s stock, valued at $5,590,451.50. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 884,862 shares of company stock valued at $17,484,482. Company insiders own 12.60% of the company’s stock.

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.