WINTON GROUP Ltd Cuts Stake in MP Materials Corp. (NYSE:MP)

WINTON GROUP Ltd cut its holdings in MP Materials Corp. (NYSE:MP) by 60.4% during the fourth quarter, Holdings Channel reports. The firm owned 130,041 shares of the company’s stock after selling 198,546 shares during the quarter. WINTON GROUP Ltd’s holdings in MP Materials were worth $2,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of MP Materials during the 4th quarter valued at about $6,284,000. Proficio Capital Partners LLC bought a new position in MP Materials during the fourth quarter valued at approximately $399,000. Oak Family Advisors LLC purchased a new position in MP Materials during the 4th quarter valued at approximately $530,000. SG Americas Securities LLC increased its stake in MP Materials by 167.3% in the 4th quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock worth $560,000 after acquiring an additional 22,473 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of MP Materials during the 3rd quarter worth approximately $2,300,000. 52.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MP shares. DA Davidson raised their target price on shares of 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 lifted 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 note on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.61.

MP Materials Price Performance

MP Materials stock opened at $26.21 on Friday. The firm has a market capitalization of $4.28 billion, a PE ratio of -44.42 and a beta of 2.32. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $27.29. The firm has a 50-day moving average price of $23.86 and a 200-day moving average price of $20.05. 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 (NYSE:MP) last announced its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The business had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. As a group, equities research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Activity at MP Materials

In other news, CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the completion of the sale, the chief financial officer now owns 230,100 shares of the company’s stock, valued at approximately $5,869,851. The trade was a 20.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James H. Litinsky sold 18,519 shares of MP Materials stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $27.00, for a total value of $500,013.00. Following the sale, the chief executive officer now directly owns 13,842,256 shares of the company’s stock, valued at approximately $373,740,912. This trade represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,130,835 shares of company stock worth $29,165,987 in the last quarter. 12.60% of the stock is owned by company insiders.

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.