Baillie Gifford & Co. Has $39.23 Million Stock Position in MP Materials Corp. (NYSE:MP)

Baillie Gifford & Co. lowered its position in shares of MP Materials Corp. (NYSE:MP) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,743,455 shares of the company’s stock after selling 216,546 shares during the quarter. Baillie Gifford & Co. owned 1.54% of MP Materials worth $39,231,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MP. GAMMA Investing LLC acquired a new stake in shares of MP Materials in the 4th quarter valued at approximately $26,000. TFO Wealth Partners LLC lifted its holdings in MP Materials by 153,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after purchasing an additional 1,537 shares during the last quarter. CWM LLC lifted its holdings in MP Materials by 85.0% during the 4th quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after purchasing an additional 766 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in MP Materials by 2,316.7% during the 1st quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock valued at $33,000 after purchasing an additional 2,224 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in MP Materials by 2,335.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after purchasing an additional 1,985 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Activity

In related news, Director Andrew A. Mcknight sold 317,750 shares of MP Materials stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $18.07, for a total value of $5,741,742.50. Following the transaction, the director now directly owns 86,000 shares of the company’s stock, valued at $1,554,020. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other MP Materials news, CFO Ryan Corbett sold 50,000 shares of MP Materials stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the sale, the chief financial officer now directly owns 325,021 shares in the company, valued at $5,502,605.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew A. Mcknight sold 317,750 shares of MP Materials stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $18.07, for a total value of $5,741,742.50. Following the completion of the sale, the director now owns 86,000 shares of the company’s stock, valued at $1,554,020. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of MP Materials in a report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft lowered their price objective on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Jefferies Financial Group lowered their price objective on MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, March 19th. JPMorgan Chase & Co. cut MP Materials from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $16.00 in a research report on Tuesday, April 23rd. Finally, Canaccord Genuity Group decreased their price target on MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.50.

MP Materials Price Performance

NYSE:MP traded down $0.09 during trading hours on Friday, hitting $14.07. The company’s stock had a trading volume of 1,971,715 shares, compared to its average volume of 3,246,390. The stock has a fifty day simple moving average of $15.35 and a 200-day simple moving average of $15.97. The company has a market capitalization of $2.33 billion, a P/E ratio of -93.79 and a beta of 2.22. The company has a debt-to-equity ratio of 0.82, a current ratio of 10.29 and a quick ratio of 9.28. MP Materials Corp. has a twelve month low of $12.09 and a twelve month high of $26.53.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. The business had revenue of $48.68 million during the quarter, compared to analyst estimates of $46.00 million. On average, analysts anticipate that MP Materials Corp. will post -0.28 EPS for the current fiscal year.

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.