MP Materials Corp. $MP Shares Sold by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. trimmed its position in MP Materials Corp. (NYSE:MP) by 95.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,480 shares of the company’s stock after selling 111,720 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in MP Materials were worth $368,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of MP Materials by 26.5% in the 1st quarter. Royal Bank of Canada now owns 234,185 shares of the company’s stock worth $5,716,000 after buying an additional 49,052 shares in the last quarter. AQR Capital Management LLC acquired a new position in MP Materials during the first quarter worth about $215,000. Integrated Wealth Concepts LLC acquired a new position in MP Materials during the first quarter worth about $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in MP Materials by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock worth $265,000 after acquiring an additional 479 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in MP Materials by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company’s stock valued at $4,734,000 after acquiring an additional 51,348 shares during the last quarter. 52.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MP has been the topic of several recent research reports. Wall Street Zen cut shares of MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. JPMorgan Chase & Co. upgraded shares of MP Materials from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $75.00 to $74.00 in a report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, January 22nd. BMO Capital Markets upgraded MP Materials from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $76.00 to $75.00 in a research report on Monday, November 24th. Finally, William Blair assumed coverage on MP Materials in a research note on Tuesday, January 13th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MP Materials presently has an average rating of “Buy” and an average target price of $78.91.

MP Materials Stock Performance

MP Materials stock opened at $57.23 on Friday. MP Materials Corp. has a fifty-two week low of $18.64 and a fifty-two week high of $100.25. The firm’s 50 day simple moving average is $59.87 and its 200-day simple moving average is $64.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. The company has a market cap of $10.14 billion, a P/E ratio of -80.61 and a beta of 1.60.

Insider Activity at MP Materials

In other news, CFO Ryan Corbett sold 38,146 shares of MP Materials stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the transaction, the chief financial officer owned 156,666 shares in the company, valued at approximately $9,399,960. The trade was a 19.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James H. Litinsky sold 385,000 shares of MP Materials stock in a transaction dated 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 directly owned 13,105,965 shares in the company, valued at approximately $824,889,437.10. This trade represents a 2.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 991,557 shares of company stock worth $62,785,202. Corporate insiders own 9.50% of the company’s stock.

MP Materials Company Profile

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.