MP Materials Corp. (NYSE:MP) is Greencape Capital Pty Ltd’s 3rd Largest Position

Greencape Capital Pty Ltd reduced its position in MP Materials Corp. (NYSE:MP) by 34.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,014,536 shares of the company’s stock after selling 539,864 shares during the period. MP Materials makes up approximately 4.7% of Greencape Capital Pty Ltd’s holdings, making the stock its 3rd largest holding. Greencape Capital Pty Ltd’s holdings in MP Materials were worth $15,827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MP. Creative Planning lifted its position in shares of MP Materials by 219.0% in the 3rd quarter. Creative Planning now owns 46,871 shares of the company’s stock worth $827,000 after purchasing an additional 32,176 shares during the period. Signaturefd LLC grew its holdings in MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after buying an additional 3,262 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of MP Materials by 56.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 59,200 shares of the company’s stock valued at $1,045,000 after purchasing an additional 21,300 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in MP Materials in the third quarter worth $188,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of MP Materials by 349.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 69,838 shares of the company’s stock worth $1,232,000 after acquiring an additional 54,284 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Canaccord Genuity Group raised their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets lifted their price objective on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, MP Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.45.

MP Materials Stock Up 1.0 %

Shares of MP opened at $23.81 on Thursday. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -40.35 and a beta of 2.34. MP Materials Corp. has a one year low of $10.02 and a one year high of $26.00. The stock has a 50 day moving average price of $20.81 and a 200 day moving average price of $18.26. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93.

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 return on equity of 8.44% and a negative net margin of 32.09%. The company had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. Equities research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ryan Corbett sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.50, for a total transaction of $752,500.00. Following the transaction, the chief financial officer now owns 260,021 shares in the company, valued at $5,590,451.50. This trade represents a 11.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James H. Litinsky sold 234,667 shares of MP Materials stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.68, for a total transaction of $4,852,913.56. Following the completion of the transaction, the chief executive officer now directly owns 17,608,409 shares in the company, valued at $364,141,898.12. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 655,890 shares of company stock worth $14,878,628. Corporate insiders own 12.60% of the company’s stock.

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.