Wellington Management Group LLP Sells 12,159 Shares of MP Materials Corp. (NYSE:MP)

Wellington Management Group LLP lowered its stake in shares of MP Materials Corp. (NYSE:MP) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 474,296 shares of the company’s stock after selling 12,159 shares during the period. Wellington Management Group LLP’s holdings in MP Materials were worth $9,415,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MP. GAMMA Investing LLC acquired a new position in MP Materials during the fourth quarter worth approximately $26,000. TFO Wealth Partners LLC increased its holdings in shares of MP Materials by 153,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock worth $31,000 after acquiring an additional 1,537 shares during the last quarter. CWM LLC raised its stake in MP Materials by 85.0% in the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after acquiring an additional 766 shares during the period. Nisa Investment Advisors LLC lifted its holdings in MP Materials by 2,335.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Mendota Financial Group LLC boosted its position in MP Materials by 46.8% during the fourth quarter. Mendota Financial Group LLC now owns 3,786 shares of the company’s stock worth $75,000 after purchasing an additional 1,207 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Performance

NYSE:MP opened at $12.85 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 9.28 and a current ratio of 10.29. MP Materials Corp. has a fifty-two week low of $12.09 and a fifty-two week high of $26.53. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -85.67 and a beta of 2.28. The stock has a fifty day moving average price of $15.63 and a 200-day moving average price of $16.12.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $48.68 million for the quarter, compared to analyst estimates of $46.00 million. MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. As a group, equities analysts anticipate that MP Materials Corp. will post -0.25 EPS for the current fiscal year.

Insider Activity at MP Materials

In other news, CFO Ryan Corbett sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the transaction, the chief financial officer now owns 325,021 shares of the company’s stock, valued at approximately $5,502,605.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Andrew A. Mcknight sold 317,750 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total value of $5,741,742.50. Following the completion of the transaction, the director now owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ryan Corbett sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the sale, the chief financial officer now directly owns 325,021 shares in the company, valued at approximately $5,502,605.53. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on MP. Canaccord Genuity Group reduced their target price on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. JPMorgan Chase & Co. downgraded MP Materials from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $16.00 in a research report on Tuesday, April 23rd. Jefferies Financial Group dropped their price target on MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. Morgan Stanley decreased their price objective on MP Materials from $15.50 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Finally, Benchmark reissued a “buy” rating and set a $30.00 target price on shares of MP Materials in a report on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.50.

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.