55,590 Shares in MP Materials Corp. (NYSE:MP) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP bought a new position in shares of MP Materials Corp. (NYSE:MP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 55,590 shares of the company’s stock, valued at approximately $867,000.

A number of other large investors have also recently added to or reduced their stakes in MP. Duff & Phelps Investment Management Co. lifted its position in MP Materials by 23.3% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 25,227 shares of the company’s stock worth $394,000 after buying an additional 4,771 shares in the last quarter. Walnut Level Capital LLC lifted its position in MP Materials by 2.7% in the 4th quarter. Walnut Level Capital LLC now owns 95,000 shares of the company’s stock worth $1,482,000 after buying an additional 2,470 shares in the last quarter. LPL Financial LLC lifted its position in MP Materials by 11.2% in the 4th quarter. LPL Financial LLC now owns 126,435 shares of the company’s stock worth $1,972,000 after buying an additional 12,782 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in MP Materials in the 4th quarter worth approximately $263,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in MP Materials in the 4th quarter worth approximately $388,000. 52.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 60,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the sale, the chief financial officer now directly owns 230,100 shares in the company, valued at $5,869,851. This trade represents a 20.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of the firm’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 sale, the chief executive officer now owns 15,643,076 shares in the company, valued at $375,590,254.76. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,130,835 shares of company stock worth $29,165,987 in the last ninety days. Insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. DA Davidson raised their price target on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. BMO Capital Markets raised their price target on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.61.

MP Materials Stock Performance

NYSE:MP opened at $23.46 on Friday. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $27.29. The firm’s fifty day simple moving average is $24.49 and its 200 day simple moving average is $20.86. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $3.83 billion, a PE ratio of -39.76 and a beta of 2.24.

MP Materials (NYSE:MP) last posted 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). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The firm had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. On average, sell-side analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

MP Materials Company 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.