Brown Advisory Securities LLC Sells 3,000 Shares of MP Materials Corp. (NYSE:MP)

Brown Advisory Securities LLC reduced its stake in MP Materials Corp. (NYSE:MP – Get Rating) by 41.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,300 shares of the company’s stock after selling 3,000 shares during the period. Brown Advisory Securities LLC’s holdings in MP Materials were worth $247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in shares of MP Materials by 6.1% in the 4th quarter. CIBC Asset Management Inc now owns 7,279 shares of the company’s stock worth $331,000 after purchasing an additional 419 shares during the last quarter. Arizona State Retirement System raised its stake in MP Materials by 2.9% during the 4th quarter. Arizona State Retirement System now owns 16,744 shares of the company’s stock worth $761,000 after buying an additional 466 shares during the period. Private Capital Group LLC acquired a new stake in MP Materials during the 1st quarter worth $27,000. Aire Advisors LLC raised its stake in MP Materials by 5.3% during the 1st quarter. Aire Advisors LLC now owns 10,809 shares of the company’s stock worth $620,000 after buying an additional 540 shares during the period. Finally, Sigma Planning Corp raised its stake in MP Materials by 8.2% during the 4th quarter. Sigma Planning Corp now owns 8,825 shares of the company’s stock worth $401,000 after buying an additional 666 shares during the period. 74.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other MP Materials news, Director Randall J. Weisenburger purchased 30,000 shares of MP Materials stock in a transaction that occurred on Thursday, June 16th. The stock was acquired at an average price of $33.25 per share, for a total transaction of $997,500.00. Following the completion of the acquisition, the director now owns 146,901 shares of the company’s stock, valued at approximately $4,884,458.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Randall J. Weisenburger acquired 30,000 shares of MP Materials stock in a transaction dated Thursday, June 16th. The stock was bought at an average price of $33.25 per share, for a total transaction of $997,500.00. Following the completion of the acquisition, the director now directly owns 146,901 shares in the company, valued at approximately $4,884,458.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Financial Lp Qvt sold 31,129 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $40.69, for a total value of $1,266,639.01. Following the sale, the director now owns 1,322,792 shares of the company’s stock, valued at approximately $53,824,406.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 535,289 shares of company stock worth $21,550,078. Company insiders own 49.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MP. Robert W. Baird raised their price objective on MP Materials from $45.00 to $55.00 in a research note on Friday. BMO Capital Markets initiated coverage on MP Materials in a research note on Tuesday, May 31st. They issued an “outperform” rating and a $50.00 price target on the stock. Northland Securities reissued an “outperform” rating and issued a $60.00 price target on shares of MP Materials in a research note on Monday, June 6th. Canaccord Genuity Group initiated coverage on MP Materials in a research note on Wednesday, July 13th. They issued a “buy” rating on the stock. Finally, Morgan Stanley lifted their price target on MP Materials from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, June 7th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $50.25.

MP Materials Price Performance

Shares of NYSE MP opened at $38.48 on Friday. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.71 and a beta of 2.93. The business has a 50-day moving average of $33.71 and a 200-day moving average of $39.91. The company has a debt-to-equity ratio of 0.62, a current ratio of 25.52 and a quick ratio of 24.76. MP Materials Corp. has a fifty-two week low of $27.48 and a fifty-two week high of $60.19.

MP Materials (NYSE:MP – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. MP Materials had a return on equity of 26.14% and a net margin of 49.26%. The business had revenue of $143.50 million during the quarter, compared to analysts’ expectations of $128.75 million. During the same quarter last year, the company posted $0.15 earnings per share. MP Materials’s quarterly revenue was up 96.3% on a year-over-year basis. As a group, sell-side analysts predict that MP Materials Corp. will post 1.32 earnings per share for the current fiscal year.

MP Materials Profile

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MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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.