Kennedy Capital Management LLC Sells 8,927 Shares of MP Materials Corp. (NYSE:MP)

Kennedy Capital Management LLC trimmed its position in shares of MP Materials Corp. (NYSE:MP) by 7.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,378 shares of the company’s stock after selling 8,927 shares during the period. Kennedy Capital Management LLC owned 0.07% of MP Materials worth $1,664,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in MP Materials during the 4th quarter valued at approximately $26,000. TFO Wealth Partners LLC grew its holdings in shares of MP Materials by 153,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,538 shares of the company’s stock valued at $31,000 after purchasing an additional 1,537 shares in the last quarter. CWM LLC increased its position in MP Materials by 85.0% in the fourth quarter. CWM LLC now owns 1,667 shares of the company’s stock worth $33,000 after purchasing an additional 766 shares during the last quarter. Global Retirement Partners LLC raised its stake in MP Materials by 2,316.7% during the first quarter. Global Retirement Partners LLC now owns 2,320 shares of the company’s stock valued at $33,000 after purchasing an additional 2,224 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in MP Materials by 2,335.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,070 shares of the company’s stock valued at $41,000 after purchasing an additional 1,985 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

MP Materials Trading Up 2.7 %

Shares of MP stock opened at $13.54 on Thursday. The stock’s 50-day moving average is $14.45 and its 200 day moving average is $15.35. MP Materials Corp. has a 1-year low of $12.09 and a 1-year high of $24.44. The company has a quick ratio of 9.28, a current ratio of 10.29 and a debt-to-equity ratio of 0.82.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $48.68 million during the quarter, compared to analysts’ expectations of $46.00 million. MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. As a group, equities analysts anticipate that MP Materials Corp. will post -0.34 EPS for the current fiscal year.

Insider Activity at MP Materials

In related news, CFO Ryan Corbett sold 50,000 shares of the company’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 transaction, the chief financial officer now directly owns 325,021 shares of the company’s stock, valued at approximately $5,502,605.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Andrew A. Mcknight sold 317,750 shares of MP Materials stock in a transaction 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 completion of the sale, the director now directly owns 86,000 shares in the company, valued at $1,554,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ryan Corbett sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the sale, the chief financial officer now owns 325,021 shares in the company, valued at approximately $5,502,605.53. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MP has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of MP Materials from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Bank of America lowered their price objective on MP Materials from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Robert W. Baird cut their target price on MP Materials from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, July 15th. Morgan Stanley cut their price objective on shares of MP Materials from $15.50 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of MP Materials in a research note on Tuesday, May 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.50.

MP Materials Company 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.