North Point Portfolio Managers Corp OH Lowers Stake in MP Materials Corp. (NYSE:MP)

North Point Portfolio Managers Corp OH cut its stake in MP Materials Corp. (NYSE:MP) by 34.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 157,635 shares of the company’s stock after selling 82,203 shares during the period. North Point Portfolio Managers Corp OH’s holdings in MP Materials were worth $2,459,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MP. Millennium Management LLC lifted its holdings in shares of MP Materials by 425.5% in the 2nd quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock worth $10,201,000 after acquiring an additional 648,838 shares during the last quarter. Bank of Montreal Can boosted its position in MP Materials by 188.1% during the second quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock valued at $11,462,000 after buying an additional 586,906 shares during the period. Segall Bryant & Hamill LLC boosted its position in MP Materials by 32.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after buying an additional 306,933 shares during the period. Public Sector Pension Investment Board purchased a new position in shares of MP Materials in the third quarter worth about $4,584,000. Finally, Bernzott Capital Advisors lifted its stake in shares of MP Materials by 43.4% in the 3rd quarter. Bernzott Capital Advisors now owns 689,270 shares of the company’s stock valued at $12,166,000 after acquiring an additional 208,586 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Up 0.9 %

NYSE:MP opened at $21.60 on Monday. The company has a 50-day moving average price of $19.16 and a 200-day moving average price of $16.67. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $24.01.

MP Materials (NYSE:MP) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. The company had revenue of $62.93 million during the quarter, compared to analysts’ expectations of $45.30 million. During the same quarter last year, the business earned $0.02 earnings per share. On average, research analysts expect that MP Materials Corp. will post -0.54 earnings per share for the current year.

Insider Activity

In related news, CFO Ryan Corbett sold 35,000 shares of MP Materials stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the transaction, the chief financial officer now directly owns 260,021 shares of the company’s stock, valued at $5,590,451.50. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 234,667 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.68, for a total transaction of $4,852,913.56. Following the completion of the sale, the chief executive officer now owns 17,608,409 shares in the company, valued at approximately $364,141,898.12. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 884,862 shares of company stock worth $17,484,482 in the last quarter. 12.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MP. Canaccord Genuity Group raised their price target on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets raised their target price on shares of MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, DA Davidson boosted their price objective on shares of MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.10.

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.