SWS Partners Increases Stock Holdings in MP Materials Corp. (NYSE:MP)

SWS Partners raised its stake in shares of MP Materials Corp. (NYSE:MP) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 162,503 shares of the company’s stock after buying an additional 707 shares during the quarter. SWS Partners’ holdings in MP Materials were worth $2,535,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of MP Materials during the third quarter valued at about $188,000. State of Alaska Department of Revenue grew its holdings in shares of MP Materials by 349.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 69,838 shares of the company’s stock worth $1,232,000 after acquiring an additional 54,284 shares during the period. New York State Teachers Retirement System raised its position in shares of MP Materials by 2.6% in the 3rd quarter. New York State Teachers Retirement System now owns 93,100 shares of the company’s stock worth $1,643,000 after acquiring an additional 2,331 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of MP Materials by 38.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 9,666 shares of the company’s stock valued at $171,000 after purchasing an additional 2,689 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of MP Materials by 6.5% during the third quarter. Janney Montgomery Scott LLC now owns 51,601 shares of the company’s stock valued at $911,000 after purchasing an additional 3,149 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 386,223 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total value of $9,273,214.23. Following the completion of the transaction, the chief executive officer now owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.60% of the company’s stock.

Wall Street Analysts Forecast Growth

MP has been the subject of a number of research reports. 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. BMO Capital Markets increased 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. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.45.

MP Materials Stock Performance

Shares of MP Materials stock opened at $22.48 on Tuesday. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -38.10 and a beta of 2.34. 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 Corp. has a 1 year low of $10.02 and a 1 year high of $26.00. The firm’s 50-day moving average is $21.24 and its 200 day moving average is $18.55.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The firm had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. Sell-side analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

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.