Victory Capital Management Inc. Acquires 73,297 Shares of MP Materials Corp. (NYSE:MP)

Victory Capital Management Inc. grew its position in MP Materials Corp. (NYSE:MP) by 3.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,432,389 shares of the company’s stock after buying an additional 73,297 shares during the period. Victory Capital Management Inc. owned 1.49% of MP Materials worth $37,945,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of MP Materials in the 4th quarter valued at about $40,000. Geneos Wealth Management Inc. boosted its holdings in shares of MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after buying an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of 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 in the last quarter. GAMMA Investing LLC boosted its holdings in shares of MP Materials by 69.3% in the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock valued at $59,000 after buying an additional 1,545 shares in the last quarter. Finally, KBC Group NV boosted its holdings 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 valued at $84,000 after buying an additional 1,246 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors.

MP Materials Stock Performance

MP opened at $25.03 on Friday. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $26.00. 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 firm has a market capitalization of $4.09 billion, a PE ratio of -42.43 and a beta of 2.32. The firm has a 50 day moving average of $21.86 and a two-hundred day moving average of $18.84.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. On average, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MP shares. BMO Capital Markets raised their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Canaccord Genuity Group lifted their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.45.

Insiders Place Their Bets

In other MP Materials news, CEO James H. Litinsky sold 386,223 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the transaction, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 12.60% of the stock is currently owned by 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.