Vanguard Group Inc. Acquires 254,881 Shares of MP Materials Corp. (NYSE:MP)

Vanguard Group Inc. lifted its holdings in shares of MP Materials Corp. (NYSE:MP) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,635,712 shares of the company’s stock after purchasing an additional 254,881 shares during the period. Vanguard Group Inc. owned 7.66% of MP Materials worth $270,669,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in MP Materials by 15.2% during the 4th quarter. Van ECK Associates Corp now owns 3,122,224 shares of the company’s stock worth $61,976,000 after acquiring an additional 411,771 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of MP Materials by 26.2% during the fourth quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock valued at $58,756,000 after purchasing an additional 614,088 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of MP Materials by 59.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,985 shares of the company’s stock valued at $45,956,000 after purchasing an additional 860,960 shares in the last quarter. First Trust Advisors LP raised its position in MP Materials by 9.5% in the 4th quarter. First Trust Advisors LP now owns 1,454,589 shares of the company’s stock worth $28,874,000 after purchasing an additional 126,611 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in MP Materials by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,198,351 shares of the company’s stock worth $23,787,000 after buying an additional 23,722 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MP Materials

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MP shares. Bank of America lowered their target price on MP Materials from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Canaccord Genuity Group cut their target price on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Morgan Stanley cut their price objective on shares of 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, JPMorgan Chase & Co. lowered shares of MP Materials from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $20.00 to $16.00 in a report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, MP Materials currently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

MP Materials Stock Down 0.9 %

Shares of NYSE:MP opened at $12.73 on Monday. The company has a 50 day moving average price of $15.56 and a two-hundred day moving average price of $16.10. The company has a market capitalization of $2.10 billion, a PE ratio of -84.86 and a beta of 2.28. MP Materials Corp. has a 52 week low of $12.09 and a 52 week high of $26.53. 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 (NYSE:MP) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. The business had revenue of $48.68 million for the quarter, compared to analyst estimates of $46.00 million. Analysts forecast that MP Materials Corp. will post -0.28 earnings per share for the current year.

About MP Materials

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.