MP Materials Corp. $MP Shares Sold by Guardian Partners Inc.

Guardian Partners Inc. trimmed its stake in MP Materials Corp. (NYSE:MP) by 37.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 43,400 shares of the company’s stock after selling 25,500 shares during the quarter. Guardian Partners Inc.’s holdings in MP Materials were worth $2,935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC increased its holdings in shares of MP Materials by 420.0% in the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 294 shares during the period. Grove Bank & Trust acquired a new position in MP Materials during the 3rd quarter valued at about $34,000. SJS Investment Consulting Inc. boosted its stake in MP Materials by 4,600.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock valued at $38,000 after purchasing an additional 552 shares during the period. Hilltop National Bank grew its position in MP Materials by 500.0% in the 3rd quarter. Hilltop National Bank now owns 600 shares of the company’s stock worth $40,000 after purchasing an additional 500 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of MP Materials by 75.9% in the third quarter. Bessemer Group Inc. now owns 642 shares of the company’s stock valued at $43,000 after purchasing an additional 277 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Stock Down 0.4%

MP stock opened at $58.26 on Friday. The firm’s 50-day moving average is $60.79 and its two-hundred day moving average is $63.73. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of -112.04 and a beta of 1.55. MP Materials Corp. has a 52 week low of $18.64 and a 52 week high of $100.25. The company has a current ratio of 7.24, a quick ratio of 6.67 and a debt-to-equity ratio of 0.47.

Analyst Ratings Changes

MP has been the topic of a number of recent analyst reports. BMO Capital Markets raised MP Materials from a “market perform” rating to an “outperform” rating and cut their price target for the company from $76.00 to $75.00 in a report on Monday, November 24th. William Blair reissued an “outperform” rating on shares of MP Materials in a report on Wednesday. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research report on Wednesday, February 18th. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Deutsche Bank Aktiengesellschaft upgraded MP Materials from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $71.00 in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $78.91.

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 38,146 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total value 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. This represents a 19.58% decrease in their ownership of the stock. The transaction 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 the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $64.17, for a total value of $17,492,742.00. Following the transaction, the chief executive officer directly owned 12,805,965 shares of the company’s stock, valued at approximately $821,758,774.05. The trade was a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 338,146 shares of company stock worth $21,535,376 in the last quarter. Company 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.