New Century Financial Group LLC Makes New Investment in MP Materials Corp. (NYSE:MP)

New Century Financial Group LLC bought a new stake in shares of MP Materials Corp. (NYSE:MP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 59,132 shares of the company’s stock, valued at approximately $922,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after acquiring an additional 1,285 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of MP Materials by 204.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after purchasing an additional 2,200 shares during the period. Signaturefd LLC grew its holdings in shares of MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after purchasing an additional 3,262 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in MP Materials in the 2nd quarter worth about $72,000. Finally, KBC Group NV lifted its holdings in MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after buying an additional 1,246 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. raised their price objective on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. DA Davidson upped their target price on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. BMO Capital Markets increased their price target on MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Finally, Robert W. Baird lifted their price objective on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.10.

MP Materials Stock Performance

Shares of MP Materials stock opened at $21.43 on Friday. MP Materials Corp. has a one year low of $10.02 and a one year high of $24.01. The company has a market capitalization of $3.50 billion, a PE ratio of -39.68 and a beta of 2.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The company has a 50-day simple moving average of $19.09 and a two-hundred day simple moving average of $16.58.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, November 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The firm had revenue of $62.93 million for the quarter, compared to analysts’ expectations of $45.30 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. During the same period in the previous year, the company earned $0.02 EPS. Research analysts expect that MP Materials Corp. will post -0.54 EPS for the current fiscal year.

Insider Activity

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the transaction, the chief executive officer now owns 18,221,776 shares in the company, valued at approximately $336,191,767.20. This represents a 1.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 15,195 shares of MP Materials stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.30, for a total transaction of $278,068.50. Following the sale, the chief financial officer now owns 295,021 shares of the company’s stock, valued at $5,398,884.30. The trade was a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 884,862 shares of company stock worth $17,484,482. Insiders own 12.60% of the company’s stock.

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.