Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in MP Materials Corp. (NYSE:MP)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in MP Materials Corp. (NYSE:MP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 291,655 shares of the company’s stock, valued at approximately $4,550,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.18% of MP Materials at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors increased its position in MP Materials by 5.0% during the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock worth $207,000 after buying an additional 557 shares in the last quarter. SWS Partners increased its position in MP Materials by 0.4% during the fourth quarter. SWS Partners now owns 162,503 shares of the company’s stock worth $2,535,000 after buying an additional 707 shares in the last quarter. Pekin Hardy Strauss Inc. increased its position in MP Materials by 0.4% during the third quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company’s stock worth $4,509,000 after buying an additional 1,135 shares in the last quarter. KBC Group NV increased its position in MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after buying an additional 1,246 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in MP Materials by 4.0% during the fourth quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company’s stock worth $605,000 after buying an additional 1,500 shares in the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 386,223 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the transaction, the chief executive officer now owns 15,643,076 shares in the company, valued at $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.60% of the stock is owned by insiders.

MP Materials Price Performance

MP stock opened at $26.93 on Monday. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $26.95. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -45.65 and a beta of 2.32. 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 stock’s fifty day simple moving average is $22.71 and its 200-day simple moving average is $19.31.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. 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 price objective on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.45.

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.