Geneos Wealth Management Inc. Grows Stock Position in MP Materials Corp. (NYSE:MP)

Geneos Wealth Management Inc. increased its position in shares of MP Materials Corp. (NYSE:MP) by 205.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,749 shares of the company’s stock after purchasing an additional 1,849 shares during the quarter. Geneos Wealth Management Inc.’s holdings in MP Materials were worth $43,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in shares of MP Materials by 23.1% during the 2nd quarter. Sei Investments Co. now owns 13,389 shares of the company’s stock worth $170,000 after purchasing an additional 2,515 shares during the last quarter. Marshall Wace LLP acquired a new position in MP Materials during the second quarter worth $219,000. Millennium Management LLC grew its holdings in MP Materials by 425.5% in the 2nd quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock valued at $10,201,000 after buying an additional 648,838 shares in the last quarter. Algert Global LLC acquired a new stake in shares of MP Materials in the 2nd quarter worth $182,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of MP Materials by 58.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 104,477 shares of the company’s stock worth $1,330,000 after acquiring an additional 38,377 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MP shares. BMO Capital Markets upped their price objective on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Canaccord Genuity Group raised their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. upped their price objective on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.45.

MP Materials Stock Up 0.6 %

NYSE:MP opened at $21.87 on Friday. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $24.01. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average is $19.43 and its two-hundred day moving average is $16.86. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -40.50 and a beta of 2.31.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, November 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The firm had revenue of $62.93 million for the quarter, compared to analysts’ expectations of $45.30 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. During the same quarter last year, the business earned $0.02 earnings per share. Research analysts anticipate that MP Materials Corp. will post -0.54 EPS for the current year.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was 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 of the company’s stock, valued at approximately $336,191,767.20. The trade was a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the sale, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $5,590,451.50. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 884,862 shares of company stock worth $17,484,482. Corporate insiders own 12.60% of the company’s stock.

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.