DDD Partners LLC Decreases Stock Position in MP Materials Corp. $MP

DDD Partners LLC cut its position in MP Materials Corp. (NYSE:MP) by 70.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,209 shares of the company’s stock after selling 10,167 shares during the quarter. DDD Partners LLC’s holdings in MP Materials were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wolff Wiese Magana LLC raised its stake in MP Materials by 28.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 806 shares of the company’s stock valued at $54,000 after acquiring an additional 177 shares during the period. Miracle Mile Advisors LLC increased its stake in shares of MP Materials by 1.0% in the third quarter. Miracle Mile Advisors LLC now owns 18,162 shares of the company’s stock worth $1,218,000 after purchasing an additional 188 shares in the last quarter. Wedmont Private Capital increased its stake in shares of MP Materials by 1.7% in the third quarter. Wedmont Private Capital now owns 11,824 shares of the company’s stock worth $872,000 after purchasing an additional 195 shares in the last quarter. IMG Wealth Management Inc. raised its position in shares of MP Materials by 4.7% in the third quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock valued at $298,000 after purchasing an additional 200 shares during the period. Finally, Cresset Asset Management LLC lifted its stake in shares of MP Materials by 1.0% during the 2nd quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock valued at $713,000 after buying an additional 204 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

Insider Activity

In other MP Materials news, CFO Ryan Corbett sold 38,146 shares of MP Materials 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 directly owned 156,666 shares in the company, valued at $9,399,960. The trade was a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James H. Litinsky sold 385,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $62.94, for a total transaction of $24,231,900.00. Following the completion of the transaction, the chief executive officer directly owned 13,105,965 shares of the company’s stock, valued at approximately $824,889,437.10. This represents a 2.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 991,557 shares of company stock valued at $62,785,202 in the last three months. 9.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on MP. TD Securities raised shares of MP Materials to a “strong-buy” rating in a report on Monday, February 9th. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $75.00 to $74.00 in a research report on Friday, November 14th. Deutsche Bank Aktiengesellschaft upgraded MP Materials from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $71.00 in a research note on Monday, November 10th. Wall Street Zen downgraded MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $68.50 to $71.00 in a research report on Friday, December 5th. Two research analysts have 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, the company currently has an average rating of “Buy” and an average price target of $78.91.

MP Materials Price Performance

NYSE:MP opened at $58.00 on Friday. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of -81.69 and a beta of 1.60. MP Materials Corp. has a 52-week low of $18.64 and a 52-week high of $100.25. The stock has a fifty day moving average of $59.78 and a 200 day moving average of $64.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 7.51 and a current ratio of 8.05.

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.