MP Materials Corp. (NYSE:MP) Stock Holdings Raised by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lifted its stake in shares of MP Materials Corp. (NYSE:MP) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,167 shares of the company’s stock after purchasing an additional 5,123 shares during the period. OneDigital Investment Advisors LLC’s holdings in MP Materials were worth $1,238,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MP. GAMMA Investing LLC grew 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 in the last quarter. Signaturefd LLC increased its stake in MP Materials by 817.5% during the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after purchasing an additional 3,262 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of MP Materials by 3,803.8% during the second quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock worth $52,000 after purchasing an additional 3,956 shares during the period. 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 buying an additional 1,246 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of MP Materials in the 2nd quarter valued at about $72,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

MP Materials Stock Performance

Shares of MP opened at $18.36 on Tuesday. The firm has a market capitalization of $3.04 billion, a PE ratio of -33.99 and a beta of 2.23. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $17.35 and a 200 day moving average price of $15.30. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $20.85.

MP Materials announced that its Board of Directors has approved a stock repurchase plan on Tuesday, September 3rd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.45, for a total value of $5,535,000.00. Following the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 15,195 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.30, for a total value of $278,068.50. Following the completion of the transaction, the chief financial officer now directly owns 295,021 shares in the company, valued at $5,398,884.30. This represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MP. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of MP Materials in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. DA Davidson boosted their price target on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Robert W. Baird increased their price objective on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, MP Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.40.

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.