Cutter & CO Brokerage Inc. Lowers Holdings in MP Materials Corp. (NYSE:MP)

Cutter & CO Brokerage Inc. decreased its stake in MP Materials Corp. (NYSE:MP) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 187,785 shares of the company’s stock after selling 2,313 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in MP Materials were worth $2,929,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in shares of MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after buying an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after buying an additional 2,200 shares during the last quarter. Signaturefd LLC boosted its stake in shares of MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after buying an additional 3,262 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of MP Materials by 69.3% in the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after buying an additional 1,545 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after buying an additional 1,246 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. BMO Capital Markets upped their price target on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Canaccord Genuity Group upped their price target on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.45.

MP Materials Stock Performance

Shares of NYSE:MP opened at $23.57 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $26.00. The firm has a market capitalization of $3.85 billion, a PE ratio of -39.94 and a beta of 2.34. The business’s 50 day moving average price is $20.67 and its 200-day moving average price is $18.22.

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

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the sale, the chief financial officer now owns 260,021 shares in the company, valued at approximately $5,590,451.50. This represents a 11.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction 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 approximately $375,590,254.76. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 655,890 shares of company stock worth $14,878,628. 12.60% of the stock is owned by insiders.

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.