Sprott Inc. Grows Stake in MP Materials Corp. (NYSE:MP)

Sprott Inc. lifted its stake in shares of MP Materials Corp. (NYSE:MP) by 177.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,903 shares of the company’s stock after purchasing an additional 37,657 shares during the period. Sprott Inc.’s holdings in MP Materials were worth $919,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Oak Family Advisors LLC purchased a new stake in MP Materials in the fourth quarter worth $530,000. Segall Bryant & Hamill LLC increased its holdings in MP Materials by 32.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after acquiring an additional 306,933 shares during the last quarter. Quest Partners LLC raised its stake in MP Materials by 806.0% in the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after acquiring an additional 38,204 shares during the period. SG Americas Securities LLC lifted its holdings in MP Materials by 167.3% during the fourth quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock valued at $560,000 after purchasing an additional 22,473 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in MP Materials during the third quarter worth about $2,300,000. Institutional investors own 52.55% of the company’s stock.

MP Materials Price Performance

NYSE:MP opened at $23.57 on Wednesday. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $26.00. The stock has a fifty day moving average of $20.67 and a 200 day moving average of $18.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -39.94 and a beta of 2.34.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. On average, research analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 35,000 shares of the stock in a transaction dated 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 directly owns 260,021 shares in the company, valued at approximately $5,590,451.50. This represents a 11.86 % 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, CEO James H. Litinsky sold 386,223 shares of the business’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 completion of the sale, the chief executive officer now owns 15,643,076 shares of the company’s stock, valued at $375,590,254.76. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 655,890 shares of company stock valued at $14,878,628 in the last quarter. Insiders own 12.60% of the company’s stock.

Analyst Upgrades and Downgrades

MP has been the topic of a number of recent research reports. BMO Capital Markets upped their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Canaccord Genuity Group increased 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. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, MP Materials currently has a consensus rating of “Moderate Buy” and a consensus 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.