MP Materials Corp. (NYSE:MP) Position Lessened by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in shares of MP Materials Corp. (NYSE:MPFree Report) by 88.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,169 shares of the company’s stock after selling 277,355 shares during the quarter. Corient Private Wealth LLC’s holdings in MP Materials were worth $718,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of MP Materials by 25.3% during the third quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock worth $255,574,000 after acquiring an additional 2,697,925 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in MP Materials by 59.2% during the 4th 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 during the period. Baillie Gifford & Co. grew its position in MP Materials by 26.2% in the 4th quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock worth $58,756,000 after purchasing an additional 614,088 shares during the last quarter. Norges Bank bought a new stake in shares of MP Materials during the fourth quarter valued at approximately $10,484,000. Finally, Van ECK Associates Corp boosted its position in shares of MP Materials by 20.0% during the third quarter. Van ECK Associates Corp now owns 2,710,453 shares of the company’s stock worth $51,770,000 after buying an additional 452,501 shares during the period. 52.55% of the stock is currently owned by institutional investors.

MP Materials Trading Down 4.5 %

Shares of NYSE:MP opened at $15.41 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 9.28 and a current ratio of 10.29. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -102.73 and a beta of 2.28. MP Materials Corp. has a 1-year low of $12.68 and a 1-year high of $26.53. The company has a 50 day moving average price of $16.28 and a 200 day moving average price of $16.40.

MP Materials (NYSE:MPGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $48.68 million for the quarter, compared to the consensus estimate of $46.00 million. MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. On average, research analysts anticipate that MP Materials Corp. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut their target price on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Canaccord Genuity Group decreased their target price on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. JPMorgan Chase & Co. downgraded shares of MP Materials from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $16.00 in a research report on Tuesday, April 23rd. Jefferies Financial Group decreased their price objective on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. Finally, Morgan Stanley downgraded MP Materials from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $26.00 to $15.50 in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, MP Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.64.

Read Our Latest Analysis on MP Materials

MP Materials Profile

(Free Report)

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.

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

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