New Century Financial Group LLC Acquires New Stake in MP Materials Corp. (NYSE:MP)

New Century Financial Group LLC bought a new position in MP Materials Corp. (NYSE:MP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,132 shares of the company’s stock, valued at approximately $922,000.

A number of other large investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D bought a new stake in MP Materials during the second quarter valued at approximately $1,501,000. American Century Companies Inc. grew its position in shares of MP Materials by 57.3% during the 2nd quarter. American Century Companies Inc. now owns 101,899 shares of the company’s stock valued at $1,297,000 after acquiring an additional 37,139 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MP Materials by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,355,982 shares of the company’s stock worth $29,993,000 after purchasing an additional 71,454 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in MP Materials in the 2nd quarter worth $135,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in MP Materials by 17.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 32,388 shares of the company’s stock valued at $412,000 after purchasing an additional 4,821 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors.

MP Materials Stock Up 1.6 %

Shares of MP stock opened at $21.43 on Friday. The company’s fifty day simple moving average is $19.09 and its two-hundred day simple moving average is $16.58. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $24.01. The stock has a market cap of $3.50 billion, a P/E ratio of -39.68 and a beta of 2.31. 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 announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.15) 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 firm had revenue of $62.93 million for the quarter, compared to the consensus estimate of $45.30 million. During the same period in the previous year, the company posted $0.02 earnings per share. Analysts predict that MP Materials Corp. will post -0.54 EPS for the current fiscal year.

Insider Activity

In other news, CEO James H. Litinsky sold 234,667 shares of MP Materials stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.68, for a total value of $4,852,913.56. Following the completion of the transaction, the chief executive officer now owns 17,608,409 shares in the company, valued at approximately $364,141,898.12. The trade was a 1.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the transaction, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $5,590,451.50. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 884,862 shares of company stock worth $17,484,482. 12.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MP has been the topic of several recent research reports. 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 note on Wednesday, November 27th. Robert W. Baird lifted their price target on shares of MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. DA Davidson lifted their target price on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, BMO Capital Markets increased their price target on MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.10.

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.