American Trust Investment Advisors LLC bought a new stake in shares of MP Materials Corp. (NYSE:MP – Free Report) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 59,810 shares of the company’s stock, valued at approximately $3,022,000. MP Materials accounts for about 1.6% of American Trust Investment Advisors LLC’s investment portfolio, making the stock its 27th biggest position.
Several other large investors have also recently modified their holdings of the stock. Freestone Grove Partners LP bought a new position in shares of MP Materials during the 4th quarter valued at approximately $595,000. Guggenheim Capital LLC increased its position in shares of MP Materials by 11.6% during the 4th quarter. Guggenheim Capital LLC now owns 5,805 shares of the company’s stock valued at $293,000 after purchasing an additional 602 shares during the last quarter. EFG International AG bought a new position in shares of MP Materials during the 4th quarter valued at approximately $51,000. Cetera Investment Advisers increased its position in shares of MP Materials by 27.6% during the 4th quarter. Cetera Investment Advisers now owns 285,764 shares of the company’s stock valued at $14,437,000 after purchasing an additional 61,790 shares during the last quarter. Finally, DF Dent & Co. Inc. bought a new position in shares of MP Materials during the 4th quarter valued at approximately $838,000. Institutional investors own 52.55% of the company’s stock.
MP Materials Price Performance
Shares of MP stock opened at $60.82 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.18 and a quick ratio of 6.58. The company has a market capitalization of $10.83 billion, a P/E ratio of -144.82 and a beta of 1.86. The company’s 50-day simple moving average is $61.99 and its two-hundred day simple moving average is $59.66. MP Materials Corp. has a one year low of $29.58 and a one year high of $100.25.
Analyst Ratings Changes
Several research firms have recently weighed in on MP. Needham & Company LLC began coverage on MP Materials in a research report on Monday, June 1st. They set a “buy” rating and a $81.00 target price on the stock. Morgan Stanley boosted their target price on MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a research note on Tuesday, April 21st. Canaccord Genuity Group set a $82.00 target price on MP Materials in a research note on Friday, May 8th. Finally, Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $80.14.
Check Out Our Latest Stock Analysis on MP Materials
Insiders Place Their Bets
In related news, COO Michael Stuart Rosenthal bought 17,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $56.62 per share, for a total transaction of $962,540.00. Following the purchase, the chief operating officer directly owned 1,333,673 shares of the company’s stock, valued at approximately $75,512,565.26. The trade was a 1.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ryan Corbett sold 20,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief financial officer owned 109,017 shares in the company, valued at $8,176,275. This represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,205,167 shares of company stock worth $79,371,654 in the last three months. Corporate insiders own 8.20% of the company’s stock.
About MP Materials
MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.
The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.
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