Secure Asset Management LLC Grows Holdings in MP Materials Corp. (NYSE:MP)

Secure Asset Management LLC increased its holdings in shares of MP Materials Corp. (NYSE:MP) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,388 shares of the company’s stock after purchasing an additional 4,263 shares during the period. Secure Asset Management LLC owned 0.06% of MP Materials worth $1,644,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in MP Materials by 136.0% during the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after purchasing an additional 1,285 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of 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 purchasing an additional 2,200 shares during the period. Signaturefd LLC grew its position in MP Materials by 817.5% during the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after buying an additional 3,262 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of MP Materials during the 2nd quarter valued at approximately $72,000. Finally, KBC Group NV boosted its stake in shares of MP Materials by 35.7% during 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 in the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MP. BMO Capital Markets lifted their price objective on MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Robert W. Baird boosted their price target on MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Canaccord Genuity Group boosted their price target on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. upped their price objective on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, DA Davidson upped their price objective on shares of MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Four 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, the company presently has an average rating of “Moderate Buy” and an average price target of $22.10.

Insider Activity at MP Materials

In other news, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was 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 $5,590,451.50. This represents a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James H. Litinsky sold 234,667 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 17,608,409 shares in the company, valued at approximately $364,141,898.12. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 884,862 shares of company stock valued at $17,484,482 over the last ninety days. 12.60% of the stock is owned by insiders.

MP Materials Price Performance

NYSE MP opened at $21.43 on Friday. 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 stock has a market capitalization of $3.50 billion, a PE ratio of -39.68 and a beta of 2.31. The stock has a 50-day simple moving average of $19.09 and a 200 day simple moving average of $16.58. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $24.01.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The business had revenue of $62.93 million during the quarter, compared to the consensus estimate of $45.30 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. During the same period in the previous year, the firm earned $0.02 EPS. Research analysts anticipate that MP Materials Corp. will post -0.54 EPS for the current year.

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.