MP Materials Corp. (NYSE:MP) Shares Sold by Sicart Associates LLC

Sicart Associates LLC reduced its stake in shares of MP Materials Corp. (NYSE:MP) by 3.7% in the 4th quarter, HoldingsChannel reports. The firm owned 370,730 shares of the company’s stock after selling 14,049 shares during the quarter. MP Materials makes up 2.1% of Sicart Associates LLC’s portfolio, making the stock its 22nd largest position. Sicart Associates LLC’s holdings in MP Materials were worth $5,783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Segall Bryant & Hamill LLC lifted its holdings in shares of MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after acquiring an additional 306,933 shares in the last quarter. Quest Partners LLC grew its position in shares of MP Materials by 806.0% during the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after buying an additional 38,204 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of MP Materials during the 3rd quarter valued at about $2,300,000. Principal Financial Group Inc. grew its position in MP Materials by 35.7% in the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after purchasing an additional 159,200 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of MP Materials in the second quarter valued at approximately $959,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MP Materials

In related news, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the completion of the transaction, the chief executive officer now owns 18,221,776 shares in the company, valued at $336,191,767.20. The trade was a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ryan Corbett sold 15,195 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.30, for a total value of $278,068.50. Following the completion of the sale, the chief financial officer now owns 295,021 shares of the company’s stock, valued at $5,398,884.30. This represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 884,862 shares of company stock valued at $17,484,482 over the last ninety days. Insiders own 12.60% of the company’s stock.

MP Materials Price Performance

Shares of MP Materials stock opened at $21.17 on Friday. The business has a 50 day moving average of $18.91 and a 200 day moving average of $16.30. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The company has a market cap of $3.45 billion, a PE ratio of -39.19 and a beta of 2.31. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $24.01.

Wall Street Analyst Weigh In

MP has been the subject of several research analyst reports. BMO Capital Markets upped their price target on shares of MP Materials from $16.00 to $18.50 and gave the company a “market perform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Morgan Stanley lifted their price target on shares of MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Canaccord Genuity Group raised their price objective 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, Robert W. Baird lifted their price objective on shares of MP Materials from $20.00 to $25.00 and gave the stock 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.10.

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.