Van ECK Associates Corp Sells 434,148 Shares of MP Materials Corp. (NYSE:MP)

Van ECK Associates Corp trimmed its holdings in MP Materials Corp. (NYSE:MP) by 18.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,891,645 shares of the company’s stock after selling 434,148 shares during the quarter. Van ECK Associates Corp’s holdings in MP Materials were worth $29,510,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MP. GAMMA Investing LLC raised its holdings in MP Materials by 136.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after purchasing an additional 1,285 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in MP Materials by 205.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after purchasing an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after purchasing an additional 2,200 shares during the last quarter. Signaturefd LLC raised its holdings in MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after purchasing an additional 3,262 shares during the last quarter. Finally, KBC Group NV raised its holdings in MP Materials by 35.7% during the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after purchasing an additional 1,246 shares during the last quarter. 52.55% of the stock is owned by institutional investors.

Insider Buying and Selling at MP Materials

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

Analysts Set New Price Targets

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

MP Materials Price Performance

Shares of MP opened at $23.72 on Friday. The firm has a market capitalization of $3.87 billion, a PE ratio of -43.92 and a beta of 2.34. The stock has a 50 day simple moving average of $20.07 and a 200 day simple moving average of $17.54. 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 Corp. has a 52-week low of $10.02 and a 52-week high of $26.00.

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.