Victory Capital Management Inc. Boosts Stock Holdings in MP Materials Corp. (NYSE:MP)

Victory Capital Management Inc. grew its position in shares of MP Materials Corp. (NYSE:MP) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,432,389 shares of the company’s stock after purchasing an additional 73,297 shares during the quarter. Victory Capital Management Inc.’s holdings in MP Materials were worth $37,945,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Oak Family Advisors LLC purchased a new position in shares of MP Materials during the 4th quarter valued at approximately $530,000. Segall Bryant & Hamill LLC raised its position in MP Materials by 32.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after acquiring an additional 306,933 shares during the period. Quest Partners LLC raised its position in MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock worth $758,000 after acquiring an additional 38,204 shares during the period. SG Americas Securities LLC raised its position in MP Materials by 167.3% during the fourth quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock worth $560,000 after acquiring an additional 22,473 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in MP Materials during the third quarter worth $2,300,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Price Performance

MP Materials stock opened at $25.03 on Friday. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $26.00. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of -42.43 and a beta of 2.32. The company has a fifty day simple moving average of $21.86 and a 200-day simple moving average of $18.84. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

MP Materials (NYSE:MP) last released its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. On average, equities analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Activity at MP Materials

In related news, CEO James H. Litinsky sold 386,223 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total value of $9,273,214.23. Following the completion of the sale, the chief executive officer now owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 12.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MP has been the subject of a number of research analyst reports. BMO Capital Markets upped their price objective on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Canaccord Genuity Group upped their price objective on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.45.

MP Materials 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.