MP Materials Corp. (NYSE:MP) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of MP Materials Corp. (NYSE:MP) by 8.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,207,017 shares of the company’s stock after buying an additional 176,121 shares during the quarter. Dimensional Fund Advisors LP’s holdings in MP Materials were worth $34,433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MP. Victory Capital Management Inc. lifted its stake in MP Materials by 3.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company’s stock worth $37,945,000 after purchasing an additional 73,297 shares during the last quarter. Invesco Ltd. grew its position in MP Materials by 0.4% in the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company’s stock worth $33,050,000 after purchasing an additional 7,453 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of MP Materials by 15.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company’s stock valued at $16,843,000 after purchasing an additional 144,661 shares during the period. Principal Financial Group Inc. raised its holdings in shares of MP Materials by 48.7% during the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company’s stock valued at $14,035,000 after buying an additional 294,806 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of MP Materials during the fourth quarter worth approximately $6,284,000. Institutional investors own 52.55% of the company’s stock.

Insider Buying and Selling at MP Materials

In related news, CFO Ryan Corbett sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the transaction, the chief financial officer now owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. This trade represents a 6.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 199,180 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $27.08, for a total value of $5,393,794.40. Following the completion of the sale, the chief executive officer now owns 13,643,076 shares of the company’s stock, valued at $369,454,498.08. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,330,015 shares of company stock valued at $34,559,781. Corporate insiders own 12.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on MP shares. JPMorgan Chase & Co. lowered their target price on MP Materials from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday. DA Davidson raised their price target on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Finally, BMO Capital Markets lifted their price objective on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.94.

MP Materials Price Performance

NYSE:MP opened at $25.01 on Monday. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The business’s 50-day moving average price is $24.77 and its 200 day moving average price is $21.71. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $29.72. The firm has a market cap of $4.09 billion, a P/E ratio of -42.39 and a beta of 2.24.

MP Materials (NYSE:MP) last released its earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. As a group, sell-side analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

MP Materials Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.