MP Materials Corp. (NYSE:MP) Stock Holdings Lowered by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its position in shares of MP Materials Corp. (NYSE:MP) by 8.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,466 shares of the company’s stock after selling 3,678 shares during the period. Janus Henderson Group PLC’s holdings in MP Materials were worth $750,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Baillie Gifford & Co. grew its stake in shares of MP Materials by 2.8% in the second quarter. Baillie Gifford & Co. now owns 2,819,743 shares of the company’s stock worth $35,895,000 after purchasing an additional 76,288 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in MP Materials by 1.2% in the third quarter. Victory Capital Management Inc. now owns 2,359,092 shares of the company’s stock worth $41,638,000 after purchasing an additional 28,697 shares during the period. Dimensional Fund Advisors LP grew its position in MP Materials by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,355,982 shares of the company’s stock valued at $29,993,000 after buying an additional 71,454 shares in the last quarter. Bank of New York Mellon Corp increased its stake in MP Materials by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,733,517 shares of the company’s stock valued at $22,068,000 after buying an additional 26,119 shares during the period. Finally, Segall Bryant & Hamill LLC raised its position in shares of MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after buying an additional 306,933 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Price Performance

MP stock opened at $19.37 on Friday. The firm has a 50-day moving average of $19.11 and a two-hundred day moving average of $15.73. The firm has a market capitalization of $3.16 billion, a PE ratio of -35.87 and a beta of 2.24. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a one year low of $10.02 and a one year high of $24.01.

MP Materials declared that its board has authorized a share buyback program on Tuesday, September 3rd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO James H. Litinsky sold 234,667 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.68, for a total transaction of $4,852,913.56. Following the completion of the sale, the chief executive officer now directly owns 17,608,409 shares in the company, valued at approximately $364,141,898.12. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 15,195 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.30, for a total transaction of $278,068.50. Following the completion of the transaction, the chief financial officer now owns 295,021 shares in the company, valued at approximately $5,398,884.30. This represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 884,862 shares of company stock valued at $17,484,482. Company insiders own 12.60% of the company’s stock.

Wall Street Analyst Weigh In

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

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.