Bryce Point Capital LLC Cuts Stock Holdings in MP Materials Corp. $MP

Bryce Point Capital LLC lessened its stake in MP Materials Corp. (NYSE:MP) by 62.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,725 shares of the company’s stock after selling 14,262 shares during the quarter. Bryce Point Capital LLC’s holdings in MP Materials were worth $585,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in MP. Johnson Investment Counsel Inc. acquired a new stake in shares of MP Materials during the 3rd quarter worth $222,000. Profund Advisors LLC purchased a new stake in MP Materials during the third quarter valued at about $206,000. ProShare Advisors LLC acquired a new stake in MP Materials during the third quarter worth about $384,000. Western Wealth Management LLC purchased a new position in shares of MP Materials in the 3rd quarter worth about $287,000. Finally, Fielder Capital Group LLC acquired a new position in shares of MP Materials in the 3rd quarter valued at about $374,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

MP Materials Stock Up 2.6%

NYSE MP opened at $62.83 on Tuesday. The company has a quick ratio of 7.51, a current ratio of 8.05 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a fifty-two week low of $18.64 and a fifty-two week high of $100.25. The business has a 50 day moving average price of $59.89 and a two-hundred day moving average price of $64.99. The stock has a market cap of $11.14 billion, a PE ratio of -88.49 and a beta of 1.60.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 385,000 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $62.94, for a total value of $24,231,900.00. Following the transaction, the chief executive officer owned 13,105,965 shares in the company, valued at $824,889,437.10. The trade was a 2.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ryan Corbett sold 38,146 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 156,666 shares of the company’s stock, valued at approximately $9,399,960. The trade was a 19.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 991,557 shares of company stock valued at $62,785,202 over the last 90 days. Insiders own 12.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MP shares. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $75.00 to $74.00 in a report on Friday, November 14th. Deutsche Bank Aktiengesellschaft raised shares of MP Materials from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $71.00 in a research report on Monday, November 10th. Morgan Stanley raised shares of MP Materials from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $68.50 to $71.00 in a research report on Friday, December 5th. William Blair initiated coverage on shares of MP Materials in a research note on Tuesday, January 13th. They issued an “outperform” rating on the stock. Finally, DA Davidson restated a “buy” rating and set a $82.00 target price on shares of MP Materials in a report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $78.91.

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.