Secure Asset Management LLC Has $1.64 Million Stake in MP Materials Corp. (NYSE:MP)

Secure Asset Management LLC boosted its stake in MP Materials Corp. (NYSE:MP) by 4.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 105,388 shares of the company’s stock after buying an additional 4,263 shares during the period. Secure Asset Management LLC’s holdings in MP Materials were worth $1,644,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in MP Materials by 1.2% in the third quarter. Victory Capital Management Inc. now owns 2,359,092 shares of the company’s stock valued at $41,638,000 after acquiring an additional 28,697 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in MP Materials by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,355,982 shares of the company’s stock valued at $29,993,000 after acquiring an additional 71,454 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in MP Materials by 32.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after buying an additional 306,933 shares during the period. Bank of Montreal Can lifted its stake in MP Materials by 188.1% in the second quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock valued at $11,462,000 after buying an additional 586,906 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in MP Materials by 26.3% in the second quarter. Clearbridge Investments LLC now owns 847,240 shares of the company’s stock worth $10,785,000 after purchasing an additional 176,219 shares during the period. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

Shares of MP opened at $21.43 on Friday. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $24.01. The firm has a market cap of $3.50 billion, a PE ratio of -39.68 and a beta of 2.31. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average price of $19.09 and a 200-day moving average price of $16.58.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The business had revenue of $62.93 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.02 earnings per share. Equities research analysts predict that MP Materials Corp. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CFO Ryan Corbett sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.50, for a total value of $752,500.00. Following the transaction, the chief financial officer now owns 260,021 shares in the company, valued at $5,590,451.50. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James H. Litinsky sold 300,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 18,221,776 shares of the company’s stock, valued at approximately $336,191,767.20. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 884,862 shares of company stock worth $17,484,482. Company insiders own 12.60% of the company’s stock.

MP Materials Company Profile

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.