Mutual of America Capital Management LLC Has $4.17 Million Holdings in MP Materials Corp. $MP

Mutual of America Capital Management LLC grew its position in shares of MP Materials Corp. (NYSE:MP) by 300.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,159 shares of the company’s stock after acquiring an additional 46,621 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MP Materials were worth $4,169,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of MP. Caxton Associates LLP bought a new stake in MP Materials during the 2nd quarter valued at $132,238,000. National Bank of Canada FI lifted its stake in shares of MP Materials by 19,314.3% in the second quarter. National Bank of Canada FI now owns 2,013,462 shares of the company’s stock valued at $66,987,000 after buying an additional 2,003,091 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of MP Materials by 76.3% during the second quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock valued at $97,200,000 after buying an additional 1,264,243 shares during the last quarter. Groupama Asset Managment bought a new stake in shares of MP Materials during the second quarter worth about $19,962,000. Finally, Man Group plc bought a new stake in shares of MP Materials during the second quarter worth about $16,140,000. 52.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MP shares. DA Davidson reaffirmed a “buy” rating and issued a $82.00 price target on shares of MP Materials in a research report on Thursday, November 20th. Wall Street Zen lowered MP Materials from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. JPMorgan Chase & Co. raised MP Materials from a “neutral” rating to an “overweight” rating and cut their target price for the company from $75.00 to $74.00 in a research report on Friday, November 14th. William Blair began coverage on MP Materials in a research report on Tuesday, January 13th. They issued an “outperform” rating for the company. Finally, BMO Capital Markets upgraded MP Materials from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $76.00 to $75.00 in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MP Materials has an average rating of “Moderate Buy” and an average price target of $78.91.

MP Materials Stock Performance

Shares of MP Materials stock opened at $62.38 on Friday. The business’s fifty day simple moving average is $59.68 and its 200 day simple moving average is $64.83. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 12 month low of $18.64 and a 12 month high of $100.25. The firm has a market capitalization of $11.05 billion, a P/E ratio of -87.85 and a beta of 1.62.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.05. The firm had revenue of $53.55 million during the quarter, compared to analyst estimates of $49.72 million. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The business’s revenue was down 14.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) EPS. As a group, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 38,146 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the completion of the sale, the chief financial officer owned 156,666 shares in the company, valued at $9,399,960. This trade represents a 19.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 272,600 shares of MP Materials stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the completion of the sale, the chief executive officer directly owned 12,805,965 shares in the company, valued at $821,758,774.05. This trade represents a 2.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 991,557 shares of company stock valued at $62,785,202 in the last 90 days. 9.50% of the stock is currently owned by corporate insiders.

About MP Materials

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.