17,120 Shares in MP Materials Corp. (NYSE:MP) Acquired by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL acquired a new position in MP Materials Corp. (NYSE:MP) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 17,120 shares of the company’s stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. IMG Wealth Management Inc. acquired a new stake in MP Materials in the fourth quarter worth approximately $66,000. Monaco Asset Management SAM acquired a new stake in MP Materials in the fourth quarter worth approximately $2,340,000. Swiss National Bank lifted its position in MP Materials by 0.7% in the fourth quarter. Swiss National Bank now owns 243,900 shares of the company’s stock worth $3,805,000 after purchasing an additional 1,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in MP Materials in the fourth quarter worth approximately $4,550,000. Finally, Avantax Advisory Services Inc. lifted its position in MP Materials by 10.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 23,179 shares of the company’s stock worth $362,000 after purchasing an additional 2,240 shares during the period. 52.55% of the stock is owned by institutional investors.

MP Materials Price Performance

MP opened at $26.86 on Wednesday. The stock has a fifty day moving average of $22.96 and a 200-day moving average of $19.50. The firm has a market capitalization of $4.39 billion, a P/E ratio of -45.53 and a beta of 2.32. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $27.05. 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 (NYSE:MP) last released its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million during 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%. Equities analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on MP. Canaccord Genuity Group increased their price objective on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets increased their price objective on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.45.

Insider Activity

In other news, CFO Ryan Corbett sold 15,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the transaction, the chief financial officer now directly owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. This represents a 6.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James H. Litinsky sold 386,223 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was 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 $375,590,254.76. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 461,223 shares of company stock worth $11,208,814 over the last quarter. Corporate insiders own 12.60% of the company’s stock.

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.