MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 1,978 Shares of MP Materials Corp. (NYSE:MP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its holdings in MP Materials Corp. (NYSE:MP) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,314 shares of the company’s stock after selling 1,978 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in MP Materials were worth $161,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quadrant Capital Group LLC grew its position in MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $38,000 after purchasing an additional 701 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of MP Materials in the 4th quarter valued at $40,000. IMG Wealth Management Inc. purchased a new stake in shares of MP Materials in the 4th quarter valued at $66,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of MP Materials in the 4th quarter valued at $86,000. Finally, KBC Group NV boosted its holdings in shares of MP Materials by 33.0% in the 4th quarter. KBC Group NV now owns 6,297 shares of the company’s stock valued at $98,000 after acquiring an additional 1,564 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 489,918 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $26.77, for a total value of $13,115,104.86. Following the completion of the transaction, the chief executive officer now owns 15,153,158 shares of the company’s stock, valued at approximately $405,650,039.66. The trade was a 3.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 60,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the completion of the transaction, the chief financial officer now directly owns 230,100 shares of the company’s stock, valued at $5,869,851. The trade was a 20.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 943,792 shares of company stock worth $25,286,567. Corporate insiders own 9.50% of the company’s stock.

MP Materials Stock Performance

Shares of MP Materials stock opened at $21.85 on Monday. The firm’s fifty day simple moving average is $23.26 and its 200-day simple moving average is $22.05. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -37.03 and a beta of 2.24. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $29.72. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

MP Materials (NYSE:MP) last posted 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 firm had revenue of $60.81 million during the quarter, compared to analysts’ expectations of $64.74 million. During the same quarter last year, the business earned ($0.04) earnings per share. The business’s quarterly revenue was up 24.9% on a year-over-year basis. As a group, equities analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MP shares. JPMorgan Chase & Co. lowered their price target on shares of MP Materials from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, May 12th. BMO Capital Markets increased their price target on shares of MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, March 20th. Finally, DA Davidson increased their price target on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.