Captrust Financial Advisors Acquires 557 Shares of MP Materials Corp. (NYSE:MP)

Captrust Financial Advisors raised its holdings in shares of MP Materials Corp. (NYSE:MP) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,734 shares of the company’s stock after purchasing an additional 557 shares during the quarter. Captrust Financial Advisors’ holdings in MP Materials were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Segall Bryant & Hamill LLC raised its stake in shares of MP Materials by 32.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after acquiring an additional 306,933 shares during the period. Quest Partners LLC increased its stake in MP Materials by 806.0% in the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock worth $758,000 after buying an additional 38,204 shares during the period. Principal Financial Group Inc. increased its stake in MP Materials by 35.7% in the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after buying an additional 159,200 shares during the period. XTX Topco Ltd purchased a new position in MP Materials in the 2nd quarter worth about $959,000. Finally, Thrivent Financial for Lutherans increased its stake in MP Materials by 197.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock worth $1,696,000 after buying an additional 63,751 shares during the period. Institutional investors own 52.55% of the company’s stock.

MP Materials Price Performance

Shares of NYSE MP opened at $18.79 on Tuesday. The firm has a market cap of $3.07 billion, a PE ratio of -34.80 and a beta of 2.24. The firm has a fifty day moving average of $19.13 and a 200 day moving average of $15.75. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. MP Materials Corp. has a one year low of $10.02 and a one year high of $24.01.

MP Materials announced that its Board of Directors has initiated a share buyback program on Tuesday, September 3rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 13.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Robert W. Baird raised their price target on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Morgan Stanley raised their target price on shares of MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. BMO Capital Markets raised their target price on shares of MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their target price on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Canaccord Genuity Group raised their target price on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, MP Materials has an average rating of “Moderate Buy” and an average target price of $22.10.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 15,195 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.30, for a total value of $278,068.50. Following the transaction, the chief financial officer now owns 295,021 shares of the company’s stock, valued at $5,398,884.30. This represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James H. Litinsky sold 300,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,221,776 shares in the company, valued at $336,191,767.20. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 884,862 shares of company stock valued at $17,484,482 in the last 90 days. 12.60% of the stock is owned by insiders.

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.