Ameritas Investment Partners Inc. Purchases New Position in MP Materials Corp. $MP

Ameritas Investment Partners Inc. purchased a new stake in shares of MP Materials Corp. (NYSE:MP) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 25,230 shares of the company’s stock, valued at approximately $1,692,000.

Several other institutional investors and hedge funds have also bought and sold shares of MP. Wolff Wiese Magana LLC raised its holdings in shares of MP Materials by 28.1% during the third quarter. Wolff Wiese Magana LLC now owns 806 shares of the company’s stock valued at $54,000 after acquiring an additional 177 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in MP Materials by 1.0% in the third quarter. Miracle Mile Advisors LLC now owns 18,162 shares of the company’s stock valued at $1,218,000 after acquiring an additional 188 shares in the last quarter. Wedmont Private Capital increased its position in MP Materials by 1.7% during the 3rd quarter. Wedmont Private Capital now owns 11,824 shares of the company’s stock valued at $872,000 after purchasing an additional 195 shares during the period. IMG Wealth Management Inc. raised its holdings in MP Materials by 4.7% in the 3rd quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock worth $298,000 after purchasing an additional 200 shares in the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of MP Materials by 4.0% in the 3rd quarter. Rothschild Investment LLC now owns 5,252 shares of the company’s stock worth $352,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 38,146 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total value of $2,288,760.00. Following the transaction, the chief financial officer owned 156,666 shares in the company, valued at approximately $9,399,960. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James H. Litinsky sold 272,600 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the sale, the chief executive officer owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. The trade was a 2.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 723,146 shares of company stock valued at $45,767,276. 12.60% of the stock is owned by company insiders.

MP Materials Price Performance

Shares of NYSE:MP opened at $58.43 on Wednesday. The business has a fifty day moving average price of $59.75 and a 200-day moving average price of $64.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. The company has a market capitalization of $10.35 billion, a PE ratio of -82.29 and a beta of 1.60. MP Materials Corp. has a 1-year low of $18.64 and a 1-year high of $100.25.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of MP Materials in a research report on Wednesday, November 19th. They set a “buy” rating and a $77.00 price target on the stock. Wall Street Zen lowered MP Materials from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $75.00 to $74.00 in a research note on Friday, November 14th. BMO Capital Markets raised MP Materials from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $76.00 to $75.00 in a research note on Monday, November 24th. Finally, Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $68.50 to $71.00 in a report on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $78.91.

MP Materials Company Profile

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.