Chesapeake Capital Corp IL Purchases Shares of 17,120 MP Materials Corp. (NYSE:MP)

Chesapeake Capital Corp IL purchased a new stake in shares of MP Materials Corp. (NYSE:MP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,120 shares of the company’s stock, valued at approximately $267,000.

A number of other institutional investors have also recently added to or reduced their stakes in MP. SBI Securities Co. Ltd. acquired a new position in shares of MP Materials during the fourth quarter worth about $40,000. Geneos Wealth Management Inc. lifted its stake in shares of MP Materials by 205.4% during the fourth 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 in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of MP Materials by 204.7% during the fourth 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 in the last quarter. GAMMA Investing LLC lifted its stake in shares of MP Materials by 69.3% during the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after purchasing an additional 1,545 shares in the last quarter. Finally, IMG Wealth Management Inc. acquired a new position in shares of MP Materials during the fourth quarter worth about $66,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MP shares. Canaccord Genuity Group boosted their price objective on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets boosted their price target on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

Insider Activity at MP Materials

In other news, 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 transaction of $9,273,214.23. Following the completion of the transaction, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ryan Corbett sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the transaction, the chief financial officer now directly owns 214,812 shares of the company’s stock, valued at $5,799,924. This trade represents a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,223 shares of company stock valued at $11,208,814 over the last three months. 12.60% of the stock is owned by insiders.

MP Materials Stock Up 0.6 %

Shares of MP Materials stock opened at $26.86 on Wednesday. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The firm has a market cap of $4.39 billion, a P/E ratio of -45.53 and a beta of 2.32. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $27.05. The business has a 50-day moving average price of $22.96 and a 200 day moving average price of $19.50.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The firm had revenue of $60.99 million during 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, sell-side analysts forecast that MP Materials Corp. will post -0.19 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.