Pekin Hardy Strauss Inc. Has $3.67 Million Holdings in MP Materials Corp. (NYSE:MP)

Pekin Hardy Strauss Inc. lessened its holdings in shares of MP Materials Corp. (NYSE:MP) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 235,400 shares of the company’s stock after selling 20,095 shares during the period. Pekin Hardy Strauss Inc. owned 0.14% of MP Materials worth $3,672,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after buying an additional 1,849 shares during the period. Nisa Investment Advisors LLC lifted its holdings in MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after buying an additional 2,200 shares during the period. GAMMA Investing LLC lifted its holdings in MP Materials by 69.3% in the fourth 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 period. Signaturefd LLC lifted its holdings in MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after buying an additional 3,262 shares during the period. Finally, KBC Group NV lifted its holdings in MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after buying an additional 1,246 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the sale, the chief financial officer now directly owns 260,021 shares of the company’s stock, valued at approximately $5,590,451.50. This represents a 11.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 955,890 shares of company stock valued at $20,944,628 over the last three months. Corporate insiders own 12.60% of the company’s stock.

MP Materials Trading Up 4.6 %

NYSE:MP opened at $24.25 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The firm has a 50-day moving average of $20.45 and a 200-day moving average of $17.98. The company has a market cap of $3.96 billion, a PE ratio of -41.09 and a beta of 2.34. MP Materials Corp. has a one year low of $10.02 and a one year high of $26.00.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The business had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. As a group, equities research analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

MP has been the subject of several research analyst reports. Canaccord Genuity Group lifted their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets lifted their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Four 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.45.

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.