MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Decreases Stake in MP Materials Corp. (NYSE:MP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in shares of MP Materials Corp. (NYSE:MP) by 16.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,314 shares of the company’s stock after selling 1,978 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in MP Materials were worth $161,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MP. Quadrant Capital Group LLC grew its holdings in shares of MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $38,000 after purchasing an additional 701 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of MP Materials during the 4th quarter worth about $40,000. IMG Wealth Management Inc. purchased a new stake in shares of MP Materials during the 4th quarter worth about $66,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of MP Materials during the 4th quarter worth about $86,000. Finally, KBC Group NV grew its holdings in shares of MP Materials by 33.0% during the 4th quarter. KBC Group NV now owns 6,297 shares of the company’s stock worth $98,000 after purchasing an additional 1,564 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Stock Performance

MP Materials stock opened at $21.85 on Monday. The stock has a market cap of $3.57 billion, a P/E ratio of -37.03 and a beta of 2.24. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average of $23.26 and a 200-day moving average of $22.05. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $29.72.

MP Materials (NYSE:MP) last released its earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The business had revenue of $60.81 million for the quarter, compared to analysts’ expectations of $64.74 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) earnings per share. On average, analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MP shares. JPMorgan Chase & Co. decreased their target price on MP Materials from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, May 12th. DA Davidson upped their price target on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. Finally, BMO Capital Markets upped their price target on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.61.

Insider Activity

In related news, CFO Ryan Corbett sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the sale, the chief financial officer now directly owns 230,100 shares of the company’s stock, valued at approximately $5,869,851. This represents a 20.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 199,180 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. This represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 943,792 shares of company stock worth $25,286,567. 9.50% of the stock is currently owned by insiders.

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.