Guidance Capital Inc. Buys New Position in MP Materials Corp. (NYSE:MP)

Guidance Capital Inc. bought a new stake in shares of MP Materials Corp. (NYSE:MP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 22,042 shares of the company’s stock, valued at approximately $344,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position 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 worth $39,000 after acquiring an additional 1,285 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after acquiring an additional 1,849 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after acquiring an additional 2,200 shares during the period. Signaturefd LLC lifted its position in shares of MP Materials by 817.5% in the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after acquiring an additional 3,262 shares during the period. Finally, KBC Group NV lifted its position in shares of MP Materials by 35.7% in the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after acquiring an additional 1,246 shares during the period. Institutional investors own 52.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MP. Canaccord Genuity Group raised their price objective on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets raised their price objective 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. Finally, JPMorgan Chase & Co. boosted their price target on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Four equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

Insider Activity

In related news, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 18,221,776 shares in the company, valued at approximately $336,191,767.20. The trade was a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 35,000 shares of MP Materials stock in a transaction on Friday, November 29th. The stock was 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 approximately $5,590,451.50. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 884,862 shares of company stock worth $17,484,482 over the last ninety days. Insiders own 12.60% of the company’s stock.

MP Materials Stock Performance

Shares of MP stock opened at $23.51 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The company has a market capitalization of $3.84 billion, a P/E ratio of -43.54 and a beta of 2.34. The company’s 50 day moving average price is $19.59 and its two-hundred day moving average price is $17.05. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $24.78.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. The business had revenue of $62.93 million during the quarter, compared to analyst estimates of $45.30 million. During the same quarter last year, the business earned $0.02 earnings per share. On average, analysts expect 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.