Silvercrest Asset Management Group LLC Increases Position in MP Materials Corp. (NYSE:MP)

Silvercrest Asset Management Group LLC grew its stake in MP Materials Corp. (NYSE:MP) by 3.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 222,680 shares of the company’s stock after acquiring an additional 8,341 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.13% of MP Materials worth $3,184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MP. Pacer Advisors Inc. boosted its position in shares of MP Materials by 79.9% in the 4th quarter. Pacer Advisors Inc. now owns 21,656 shares of the company’s stock worth $430,000 after purchasing an additional 9,620 shares in the last quarter. Miracle Mile Advisors LLC boosted its position in shares of MP Materials by 11.9% in the 4th quarter. Miracle Mile Advisors LLC now owns 14,150 shares of the company’s stock worth $281,000 after purchasing an additional 1,500 shares in the last quarter. JB Capital LLC acquired a new stake in shares of MP Materials in the 4th quarter worth $228,000. Arizona State Retirement System boosted its position in shares of MP Materials by 30.9% in the 4th quarter. Arizona State Retirement System now owns 39,729 shares of the company’s stock worth $789,000 after purchasing an additional 9,385 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of MP Materials by 7.1% in the 4th quarter. New York State Teachers Retirement System now owns 104,280 shares of the company’s stock worth $2,070,000 after purchasing an additional 6,910 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MP Materials

In related news, Director Andrew A. Mcknight sold 317,750 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $18.07, for a total value of $5,741,742.50. Following the completion of the transaction, the director now owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Andrew A. Mcknight sold 317,750 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $18.07, for a total value of $5,741,742.50. Following the completion of the transaction, the director now owns 86,000 shares of the company’s stock, valued at approximately $1,554,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the transaction, the chief financial officer now directly owns 325,021 shares of the company’s stock, valued at approximately $5,502,605.53. The disclosure for this sale can be found here. Company insiders own 12.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on MP Materials from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of MP Materials in a research report on Tuesday, May 14th. Bank of America lowered their price target on MP Materials from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Morgan Stanley lowered their price target on MP Materials from $15.50 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Finally, BMO Capital Markets started coverage on MP Materials in a research report on Monday, July 15th. They set a “market perform” rating and a $16.50 price target for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, MP Materials presently has an average rating of “Moderate Buy” and an average target price of $20.50.

MP Materials Trading Down 1.7 %

Shares of MP traded down $0.23 during mid-day trading on Tuesday, reaching $13.20. The company had a trading volume of 715,460 shares, compared to its average volume of 3,267,188. MP Materials Corp. has a 52-week low of $12.09 and a 52-week high of $24.44. The company has a quick ratio of 9.28, a current ratio of 10.29 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average of $14.62 and a two-hundred day moving average of $15.40.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). MP Materials had a negative return on equity of 0.61% and a net margin of 1.62%. The company had revenue of $48.68 million during the quarter, compared to analysts’ expectations of $46.00 million. As a group, equities research analysts predict that MP Materials Corp. will post -0.34 earnings per share for the current fiscal year.

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.