Cetera Investment Advisers Lowers Position in MP Materials Corp. (NYSE:MP)

Cetera Investment Advisers cut its position in shares of MP Materials Corp. (NYSE:MP) by 22.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,118 shares of the company’s stock after selling 12,270 shares during the quarter. Cetera Investment Advisers’ holdings in MP Materials were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in shares of MP Materials by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after purchasing an additional 701 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in MP Materials during the 4th quarter valued at approximately $40,000. Geneos Wealth Management Inc. raised its stake in MP Materials by 205.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after buying an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after acquiring an additional 2,200 shares in the last quarter. Finally, IMG Wealth Management Inc. purchased a new stake in shares of MP Materials in the fourth quarter worth $66,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Stock Performance

Shares of NYSE MP opened at $19.68 on Monday. The firm’s 50-day moving average price is $23.91 and its 200-day moving average price is $22.03. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The company has a market cap of $3.22 billion, a PE ratio of -33.35 and a beta of 2.24. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $29.72.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The company had revenue of $60.81 million for the quarter, compared to the consensus estimate of $64.74 million. During the same quarter last year, the company earned ($0.04) EPS. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. As a group, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Transactions at MP Materials

In related news, CEO James H. Litinsky sold 489,918 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $26.77, for a total transaction of $13,115,104.86. Following the completion of the sale, the chief executive officer now owns 15,153,158 shares in the company, valued at approximately $405,650,039.66. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction on Monday, March 17th. The shares were sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the sale, the chief financial officer now owns 214,812 shares in the company, valued at approximately $5,799,924. This represents a 6.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 943,792 shares of company stock worth $25,286,567 in the last quarter. Company insiders own 9.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MP shares. BMO Capital Markets lifted their price target on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. decreased their target price on shares of MP Materials from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, May 12th. Finally, DA Davidson increased their price target on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, MP Materials currently has an average rating of “Moderate Buy” and an average target price of $23.61.

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.