Magnetar Financial LLC Sells 7,400 Shares of MP Materials Corp. (NYSE:MP)

Magnetar Financial LLC cut its position in shares of MP Materials Corp. (NYSE:MP) by 15.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,992 shares of the company’s stock after selling 7,400 shares during the quarter. Magnetar Financial LLC’s holdings in MP Materials were worth $586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MP. GAMMA Investing LLC bought a new position in shares of MP Materials during the 4th quarter worth about $26,000. TFO Wealth Partners LLC increased its stake in shares of MP Materials by 153,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after buying an additional 1,537 shares in the last quarter. CWM LLC raised its holdings in shares of MP Materials by 85.0% in the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock valued at $33,000 after buying an additional 766 shares during the last quarter. Global Retirement Partners LLC lifted its position 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 worth $33,000 after buying an additional 2,224 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew 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 worth $41,000 after acquiring an additional 1,985 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MP shares. JPMorgan Chase & Co. dropped their target price on shares of MP Materials from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Bank of America reduced their price objective on MP Materials from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft lowered their target price on MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Robert W. Baird lowered their target price on shares of MP Materials from $24.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, July 15th. Finally, Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of MP Materials in a report on Tuesday, May 14th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, MP Materials has an average rating of “Moderate Buy” and a consensus price target of $20.50.

MP Materials Stock Down 1.5 %

MP traded down $0.21 during trading hours on Monday, hitting $13.69. 92,196 shares of the company’s stock were exchanged, compared to its average volume of 3,274,581. The company has a debt-to-equity ratio of 0.82, a quick ratio of 9.28 and a current ratio of 10.29. MP Materials Corp. has a 1-year low of $12.09 and a 1-year high of $24.44. The stock’s 50-day moving average is $14.72 and its two-hundred day moving average is $15.42.

MP Materials (NYSE:MP) last released its earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $48.68 million during the quarter, compared to analyst estimates of $46.00 million. MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. As a group, equities research analysts predict that MP Materials Corp. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ryan Corbett sold 50,000 shares of the firm’s 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 of the company’s stock, valued at $5,502,605.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other MP Materials news, Director Andrew A. Mcknight sold 317,750 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were 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 approximately $1,554,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were 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 disclosure for this sale can be found here. 12.60% of the stock is currently owned by corporate insiders.

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.