Healthcare of Ontario Pension Plan Trust Fund Purchases 23,903 Shares of MP Materials Corp. (NYSE:MP)

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in MP Materials Corp. (NYSE:MP) by 14.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,828 shares of the company’s stock after purchasing an additional 23,903 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in MP Materials were worth $2,700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of MP Materials by 1.7% in the first quarter. Vanguard Group Inc. now owns 13,861,266 shares of the company’s stock valued at $198,216,000 after purchasing an additional 225,554 shares in the last quarter. Van ECK Associates Corp increased its position in shares of MP Materials by 15.2% during the fourth quarter. Van ECK Associates Corp now owns 3,122,224 shares of the company’s stock valued at $61,976,000 after buying an additional 411,771 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of MP Materials by 26.2% in the fourth quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock worth $58,756,000 after buying an additional 614,088 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MP Materials by 59.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,985 shares of the company’s stock valued at $45,956,000 after acquiring an additional 860,960 shares during the period. Finally, First Trust Advisors LP grew its position in shares of MP Materials by 9.5% during the 4th quarter. First Trust Advisors LP now owns 1,454,589 shares of the company’s stock valued at $28,874,000 after purchasing an additional 126,611 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the transaction, the chief financial officer now owns 325,021 shares in the company, valued at approximately $5,502,605.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other MP Materials news, CFO Ryan Corbett sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the sale, the chief financial officer now directly owns 325,021 shares in the company, valued at approximately $5,502,605.53. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew A. Mcknight sold 317,750 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.07, for a total transaction of $5,741,742.50. Following the sale, the director now owns 86,000 shares of the company’s stock, valued at $1,554,020. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.

MP Materials Stock Performance

MP Materials stock opened at $13.79 on Friday. The stock’s 50 day moving average is $14.80 and its 200 day moving average is $15.49. MP Materials Corp. has a twelve month low of $12.09 and a twelve month high of $24.44. The company has a debt-to-equity ratio of 0.82, a quick ratio of 9.28 and a current ratio of 10.29.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $48.68 million for the quarter, compared to the consensus estimate of $46.00 million. MP Materials had a net margin of 1.62% and a negative return on equity of 0.61%. As a group, sell-side analysts predict that MP Materials Corp. will post -0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MP shares. Robert W. Baird lowered their target price on shares of MP Materials from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, July 15th. BMO Capital Markets started coverage on shares of MP Materials in a report on Monday, July 15th. They set a “market perform” rating and a $16.50 target price on the stock. Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of MP Materials in a research note on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft reduced their price target on MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of MP Materials from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

About MP Materials

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.