North Point Portfolio Managers Corp OH Sells 82,203 Shares of MP Materials Corp. (NYSE:MP)

North Point Portfolio Managers Corp OH reduced its stake in MP Materials Corp. (NYSE:MP) by 34.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 157,635 shares of the company’s stock after selling 82,203 shares during the quarter. North Point Portfolio Managers Corp OH owned approximately 0.10% of MP Materials worth $2,459,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of MP Materials by 136.0% in the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after purchasing an additional 1,285 shares during the last quarter. Geneos Wealth Management Inc. grew its position in MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after purchasing an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after buying an additional 2,200 shares during the last quarter. Signaturefd LLC lifted its position in shares of MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after buying an additional 3,262 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of MP Materials by 35.7% in the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after buying an additional 1,246 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

MP Materials Trading Up 0.9 %

Shares of NYSE:MP opened at $21.60 on Monday. The company has a 50-day moving average price of $19.16 and a two-hundred day moving average price of $16.67. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $24.01. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. DA Davidson lifted their price target 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 lifted their target price 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. Canaccord Genuity Group increased their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, MP Materials has an average rating of “Moderate Buy” and an average price target of $22.10.

Insider Buying and Selling at MP Materials

In other news, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were 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 of the company’s stock, valued at approximately $5,590,451.50. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total value of $6,066,000.00. Following the sale, the chief executive officer now directly owns 18,043,076 shares of the company’s stock, valued at $364,830,996.72. This represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 884,862 shares of company stock valued at $17,484,482 in the last quarter. 12.60% of the stock is currently owned by corporate insiders.

MP Materials 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.