MP Materials Corp. (NYSE:MP) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC raised its stake in MP Materials Corp. (NYSE:MP) by 12.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,900 shares of the company’s stock after acquiring an additional 1,750 shares during the quarter. Miracle Mile Advisors LLC’s holdings in MP Materials were worth $248,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. State of New Jersey Common Pension Fund D acquired a new position in shares of MP Materials in the 2nd quarter valued at $1,501,000. American Century Companies Inc. boosted its stake 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 worth $1,297,000 after acquiring an additional 37,139 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of MP Materials by 9.7% during the 2nd quarter. Federated Hermes Inc. now owns 338,173 shares of the company’s stock worth $4,305,000 after acquiring an additional 30,040 shares in the last quarter. 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 valued at $29,993,000 after purchasing an additional 71,454 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in MP Materials in the 2nd quarter worth about $135,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

NYSE MP opened at $21.17 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’s fifty day moving average is $18.91 and its two-hundred day moving average is $16.30. The firm has a market capitalization of $3.45 billion, a P/E ratio of -39.19 and a beta of 2.31. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $24.01.

Insider Activity

In related news, CEO James H. Litinsky sold 234,667 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were 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. The trade was a 1.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 15,195 shares of the business’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 sale, the chief financial officer now directly owns 295,021 shares in the company, valued at $5,398,884.30. This trade represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 884,862 shares of company stock valued at $17,484,482. 12.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Canaccord Genuity Group raised their price objective 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 shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Robert W. Baird lifted their target price on shares of MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Morgan Stanley boosted their target price on shares of MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Finally, DA Davidson raised their price target 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. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, MP Materials has a consensus rating of “Moderate Buy” and an average 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.