Virtu Financial LLC Takes $1.23 Million Position in MP Materials Corp. (NYSE:MP)

Virtu Financial LLC purchased a new stake in shares of MP Materials Corp. (NYSE:MP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 79,124 shares of the company’s stock, valued at approximately $1,234,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MP. SBI Securities Co. Ltd. purchased a new stake in shares of MP Materials during the fourth quarter valued at $40,000. Geneos Wealth Management Inc. boosted its position in shares of MP Materials by 205.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock valued at $43,000 after buying an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of MP Materials by 204.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after buying an additional 2,200 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of MP Materials by 69.3% during the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock valued at $59,000 after buying an additional 1,545 shares during the last quarter. Finally, IMG Wealth Management Inc. purchased a new stake in shares of MP Materials during the fourth quarter valued at $66,000. 52.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Canaccord Genuity Group increased their price objective on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets increased their price objective on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, DA Davidson raised their target price on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, MP Materials has a consensus rating of “Moderate Buy” and an average price target of $23.61.

Insider Activity

In related news, CEO James H. Litinsky sold 489,918 shares of MP Materials stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $26.77, for a total transaction of $13,115,104.86. Following the sale, the chief executive officer now owns 15,153,158 shares of the company’s stock, valued at approximately $405,650,039.66. This trade represents a 3.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the sale, the chief financial officer now directly owns 230,100 shares in the company, valued at $5,869,851. This trade represents a 20.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,112,316 shares of company stock valued at $28,665,974 in the last ninety days. Corporate insiders own 12.60% of the company’s stock.

MP Materials Stock Down 1.7 %

MP stock opened at $25.81 on Monday. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $27.29. 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 has a market cap of $4.22 billion, a P/E ratio of -43.75 and a beta of 2.32. The business’s 50-day moving average price is $23.36 and its 200-day moving average price is $19.78.

MP Materials (NYSE:MP) last posted its quarterly earnings data 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 company had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. On average, equities research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current year.

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.