Fox Run Management L.L.C. Takes $263,000 Position in MP Materials Corp. (NYSE:MP)

Fox Run Management L.L.C. bought a new position in shares of MP Materials Corp. (NYSE:MP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 16,850 shares of the company’s stock, valued at approximately $263,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in shares of MP Materials during the fourth quarter valued at $40,000. Geneos Wealth Management Inc. raised its position in MP Materials by 205.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after purchasing an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after buying an additional 2,200 shares during the period. GAMMA Investing LLC grew its position in shares of MP Materials by 69.3% in the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock valued at $59,000 after buying an additional 1,545 shares during the last quarter. Finally, IMG Wealth Management Inc. acquired a new stake in shares of MP Materials in the fourth quarter valued at about $66,000. 52.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. DA Davidson upped their target price on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. BMO Capital Markets increased their price objective on shares of MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.61.

Insiders Place Their Bets

In related news, CFO Ryan Corbett sold 60,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the sale, the chief financial officer now owns 230,100 shares in the company, valued at $5,869,851. This represents a 20.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James H. Litinsky sold 386,223 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the transaction, the chief executive officer now directly owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,130,835 shares of company stock worth $29,165,987. Corporate insiders own 12.60% of the company’s stock.

MP Materials Stock Performance

NYSE:MP opened at $26.21 on Friday. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $27.29. The company has a fifty day moving average of $23.86 and a 200-day moving average of $20.05. The firm has a market capitalization of $4.28 billion, a P/E ratio of -44.42 and a beta of 2.32.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The company had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. As a group, sell-side analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current 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.