Wedmont Private Capital Acquires Shares of 10,175 MP Materials Corp. (NYSE:MP)

Wedmont Private Capital bought a new position in MP Materials Corp. (NYSE:MP) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 10,175 shares of the company’s stock, valued at approximately $159,000.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in MP Materials by 136.0% in the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after buying an additional 1,285 shares in the last quarter. Signaturefd LLC grew its holdings in shares of MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after acquiring an additional 3,262 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of MP Materials during the 2nd quarter worth approximately $72,000. KBC Group NV raised its position in shares of MP Materials by 35.7% in 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. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of MP Materials in the 2nd quarter valued at approximately $100,000. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Down 1.0 %

NYSE:MP opened at $20.96 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 firm has a market cap of $3.42 billion, a P/E ratio of -38.81 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. The firm has a 50-day simple moving average of $18.93 and a two-hundred day simple moving average of $16.33.

Insider Activity

In other MP Materials news, CEO James H. Litinsky sold 234,667 shares of the business’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 completion of the transaction, the chief executive officer now owns 17,608,409 shares of the company’s stock, 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 can be accessed through this hyperlink. Also, 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 transaction of $278,068.50. Following the transaction, the chief financial officer now owns 295,021 shares in the company, valued at $5,398,884.30. This represents a 4.90 % 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 worth $17,484,482 over the last 90 days. 12.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MP has been the topic of several recent research reports. BMO Capital Markets upped their price target 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 upped their target price on shares of MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Canaccord Genuity Group boosted their price objective on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Robert W. Baird raised their target price on shares of MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. 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, MP Materials currently has an average rating of “Moderate Buy” and a consensus price target 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.