Great Valley Advisor Group Inc. Increases Stock Position in MP Materials Corp. (NYSE:MP)

Great Valley Advisor Group Inc. raised its stake in shares of MP Materials Corp. (NYSE:MP) by 26.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,155 shares of the company’s stock after purchasing an additional 21,858 shares during the quarter. Great Valley Advisor Group Inc. owned 0.06% of MP Materials worth $1,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of MP Materials by 13.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 505,532 shares of the company’s stock worth $8,923,000 after acquiring an additional 59,469 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake 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 worth $21,988,000 after purchasing an additional 306,933 shares during the last quarter. Strengthening Families & Communities LLC boosted its holdings in shares of MP Materials by 4.0% in the 3rd quarter. Strengthening Families & Communities LLC now owns 69,177 shares of the company’s stock worth $1,221,000 after purchasing an additional 2,641 shares in the last quarter. Quest Partners LLC increased its position in shares of MP Materials by 806.0% during the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after purchasing an additional 38,204 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of MP Materials by 197.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock valued at $1,696,000 after buying an additional 63,751 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MP. Benchmark reiterated a “buy” rating and set a $30.00 price target on shares of MP Materials in a research report on Friday, August 2nd. Robert W. Baird increased their target price on shares of MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Morgan Stanley boosted their price target on shares of MP Materials from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. DA Davidson raised their price objective on MP Materials from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Canaccord Genuity Group lowered their target price on MP Materials from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.40.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.45, for a total value of $5,535,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,221,776 shares in the company, valued at $336,191,767.20. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ryan Corbett sold 15,195 shares of MP Materials stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.30, for a total value of $278,068.50. Following the sale, the chief financial officer now directly owns 295,021 shares in the company, valued at approximately $5,398,884.30. The trade was a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.

MP Materials Stock Up 4.9 %

NYSE MP opened at $19.64 on Monday. The business’s 50-day moving average is $17.74 and its 200 day moving average is $15.38. The stock has a market capitalization of $3.21 billion, a PE ratio of -36.37 and a beta of 2.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $20.85.

MP Materials announced that its board has authorized a stock buyback plan on Tuesday, September 3rd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 13.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.