MP Materials Corp. (NYSE:MP) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its stake in MP Materials Corp. (NYSE:MPGet Rating) by 97.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,096 shares of the company’s stock after acquiring an additional 7,949 shares during the quarter. Advisors Asset Management Inc.’s holdings in MP Materials were worth $516,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MP. BlackRock Inc. boosted its position in MP Materials by 29.1% during the first quarter. BlackRock Inc. now owns 6,398,647 shares of the company’s stock valued at $366,898,000 after purchasing an additional 1,441,580 shares during the last quarter. State Street Corp lifted its position in shares of MP Materials by 56.2% in the first quarter. State Street Corp now owns 4,806,550 shares of the company’s stock worth $275,608,000 after buying an additional 1,729,193 shares during the last quarter. Invesco Ltd. lifted its position in shares of MP Materials by 61.1% in the first quarter. Invesco Ltd. now owns 2,208,928 shares of the company’s stock worth $126,661,000 after buying an additional 838,085 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of MP Materials by 8.8% in the first quarter. Van ECK Associates Corp now owns 1,993,147 shares of the company’s stock worth $114,287,000 after purchasing an additional 160,885 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of MP Materials by 925.3% in the first quarter. Renaissance Technologies LLC now owns 1,568,700 shares of the company’s stock worth $89,949,000 after purchasing an additional 1,415,700 shares during the period. 71.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group decreased their price objective on MP Materials from $47.00 to $40.00 in a report on Wednesday, September 28th. Cowen decreased their price objective on MP Materials to $40.00 in a report on Thursday, October 20th. Morgan Stanley decreased their price objective on MP Materials from $46.00 to $45.50 and set an “overweight” rating on the stock in a report on Friday, September 16th. Finally, Robert W. Baird boosted their target price on MP Materials from $45.00 to $55.00 in a report on Friday, August 5th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MP Materials presently has a consensus rating of “Buy” and a consensus price target of $47.39.

MP Materials Stock Up 0.6 %

NYSE:MP opened at $32.68 on Friday. The stock’s fifty day moving average price is $30.61 and its two-hundred day moving average price is $33.49. MP Materials Corp. has a 52-week low of $26.19 and a 52-week high of $60.19. The company has a debt-to-equity ratio of 0.55, a quick ratio of 17.33 and a current ratio of 18.15. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 1.60 and a beta of 2.69.

Insider Buying and Selling at MP Materials

In other MP Materials news, Director Financial Lp Qvt sold 23,600 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $34.43, for a total transaction of $812,548.00. Following the completion of the sale, the director now owns 1,288,458 shares in the company, valued at approximately $44,361,608.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Daniel Allen Gold sold 146,935 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $32.04, for a total value of $4,707,797.40. Following the completion of the sale, the director now owns 1,159,250 shares in the company, valued at approximately $37,142,370. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Financial Lp Qvt sold 23,600 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $34.43, for a total transaction of $812,548.00. Following the completion of the sale, the director now owns 1,288,458 shares of the company’s stock, valued at approximately $44,361,608.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 765,016 shares of company stock worth $26,628,508. Insiders own 41.30% of the company’s stock.

MP Materials Profile

(Get Rating)

MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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.

Further Reading

Institutional Ownership by Quarter for MP Materials (NYSE:MP)

Receive News & Ratings for MP Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MP Materials and related companies with MarketBeat.com's FREE daily email newsletter.