Northwestern Mutual Wealth Management Co. Sells 63,297 Shares of MP Materials Corp. $MP

Northwestern Mutual Wealth Management Co. lessened its stake in shares of MP Materials Corp. (NYSE:MP) by 32.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 131,735 shares of the company’s stock after selling 63,297 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in MP Materials were worth $4,383,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Driehaus Capital Management LLC bought a new position in shares of MP Materials in the 1st quarter valued at $34,288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in MP Materials by 429.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,550,124 shares of the company’s stock worth $37,839,000 after purchasing an additional 1,257,282 shares in the last quarter. Vanguard Group Inc. increased its holdings in MP Materials by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 13,662,567 shares of the company’s stock worth $333,503,000 after purchasing an additional 942,105 shares in the last quarter. BNP Paribas Financial Markets raised its position in MP Materials by 73.7% in the first quarter. BNP Paribas Financial Markets now owns 1,657,299 shares of the company’s stock valued at $40,455,000 after purchasing an additional 703,042 shares during the last quarter. Finally, Groupama Asset Managment acquired a new stake in shares of MP Materials during the second quarter valued at about $19,962,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MP Materials

In other news, CEO James H. Litinsky sold 248,411 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $63.86, for a total value of $15,863,526.46. Following the transaction, the chief executive officer directly owned 13,369,665 shares of the company’s stock, valued at $853,786,806.90. The trade was a 1.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ryan Corbett sold 20,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $57.72, for a total value of $1,154,400.00. Following the sale, the chief financial officer owned 194,812 shares in the company, valued at approximately $11,244,548.64. The trade was a 9.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.50% of the stock is owned by insiders.

MP Materials Stock Performance

Shares of MP stock opened at $58.74 on Thursday. The stock has a market capitalization of $10.41 billion, a PE ratio of -82.74 and a beta of 1.69. The business’s 50 day simple moving average is $66.92 and its 200 day simple moving average is $56.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. MP Materials Corp. has a one year low of $15.56 and a one year high of $100.25.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The firm had revenue of $53.55 million for the quarter, compared to the consensus estimate of $49.72 million. During the same quarter in the previous year, the company earned ($0.12) EPS. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. As a group, research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MP. Daiwa Capital Markets assumed coverage on MP Materials in a research note on Monday, September 22nd. They issued an “outperform” rating and a $80.00 price objective for the company. The Goldman Sachs Group began coverage on shares of MP Materials in a research report on Wednesday, November 19th. They set a “buy” rating and a $77.00 target price on the stock. Cowen restated a “buy” rating on shares of MP Materials in a research report on Friday, August 8th. Morgan Stanley set a $69.00 price target on shares of MP Materials in a research note on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.73.

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.