Oakworth Capital Inc. Trims Position in MP Materials Corp. (NYSE:MP)

Oakworth Capital Inc. reduced its position in MP Materials Corp. (NYSE:MP) by 47.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,197 shares of the company’s stock after selling 11,010 shares during the period. Oakworth Capital Inc.’s holdings in MP Materials were worth $190,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in shares of MP Materials by 23.1% during the second quarter. Sei Investments Co. now owns 13,389 shares of the company’s stock worth $170,000 after purchasing an additional 2,515 shares during the last quarter. Marshall Wace LLP purchased a new position in MP Materials during the second quarter worth about $219,000. Algert Global LLC acquired a new stake in MP Materials in the 2nd quarter worth about $182,000. GAMMA Investing LLC boosted its stake in MP Materials by 136.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after buying an additional 1,285 shares during the last quarter. Finally, Essex Investment Management Co. LLC grew its holdings in MP Materials by 25.7% in the 3rd quarter. Essex Investment Management Co. LLC now owns 118,648 shares of the company’s stock valued at $2,094,000 after buying an additional 24,231 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Ryan Corbett sold 15,195 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $18.30, for a total value of $278,068.50. Following the completion of the transaction, the chief financial officer now owns 295,021 shares of the company’s stock, valued at approximately $5,398,884.30. This represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James H. Litinsky sold 386,223 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total value of $9,273,214.23. Following the sale, the chief executive officer now owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,271,085 shares of company stock valued at $26,757,696. Corporate insiders own 12.60% of the company’s stock.

MP Materials Stock Up 2.2 %

Shares of MP Materials stock opened at $24.08 on Friday. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $24.80. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of -44.60 and a beta of 2.34. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average price of $19.66 and a 200 day moving average price of $17.10.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The company had revenue of $62.93 million during the quarter, compared to analysts’ expectations of $45.30 million. MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. During the same period in the previous year, the company earned $0.02 EPS. Equities research analysts forecast that MP Materials Corp. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MP has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. BMO Capital Markets increased their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Finally, Canaccord Genuity Group boosted their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, MP Materials currently has an average rating of “Moderate Buy” and an average price target of $22.45.

MP Materials Company 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.