MP Materials Corp. (NYSE:MP) Shares Sold by Verity Asset Management Inc.

Verity Asset Management Inc. lowered its stake in MP Materials Corp. (NYSE:MP) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,115 shares of the company’s stock after selling 1,998 shares during the period. Verity Asset Management Inc. owned about 0.06% of MP Materials worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its stake in MP Materials by 1.2% in the third quarter. Victory Capital Management Inc. now owns 2,359,092 shares of the company’s stock valued at $41,638,000 after buying an additional 28,697 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in shares of MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after acquiring an additional 306,933 shares in the last quarter. Millennium Management LLC lifted its stake in MP Materials by 425.5% during the second quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock worth $10,201,000 after purchasing an additional 648,838 shares during the last quarter. Bernzott Capital Advisors boosted its holdings in MP Materials by 43.4% in the third quarter. Bernzott Capital Advisors now owns 689,270 shares of the company’s stock valued at $12,166,000 after purchasing an additional 208,586 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in MP Materials by 35.7% in the third quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock valued at $10,676,000 after purchasing an additional 159,200 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James H. Litinsky sold 300,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the sale, the chief executive officer now owns 18,221,776 shares of the company’s stock, valued at $336,191,767.20. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 884,862 shares of company stock worth $17,484,482. Company insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

MP has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their price objective on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. raised their price objective on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, BMO Capital Markets lifted their price target on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.45.

MP Materials Price Performance

NYSE:MP opened at $22.22 on Tuesday. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $24.01. The firm’s fifty day moving average price is $19.46 and its 200 day moving average price is $16.94.

MP Materials (NYSE:MP) last issued 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). The firm had revenue of $62.93 million during the quarter, compared to analysts’ expectations of $45.30 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. During the same period in the previous year, the firm earned $0.02 EPS. Sell-side analysts anticipate that MP Materials Corp. will post -0.54 earnings per share for the current fiscal year.

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.