Wellington Management Group LLP Sells 39,361 Shares of MP Materials Corp. (NYSE:MP)

Wellington Management Group LLP decreased its position in MP Materials Corp. (NYSE:MP) by 15.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 223,821 shares of the company’s stock after selling 39,361 shares during the period. Wellington Management Group LLP’s holdings in MP Materials were worth $3,492,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MP. Captrust Financial Advisors lifted its stake in shares of MP Materials by 5.0% in the 3rd quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock valued at $207,000 after purchasing an additional 557 shares during the period. SWS Partners increased its holdings in MP Materials by 0.4% in the fourth quarter. SWS Partners now owns 162,503 shares of the company’s stock worth $2,535,000 after purchasing an additional 707 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in MP Materials by 4.0% in the fourth quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company’s stock valued at $605,000 after buying an additional 1,500 shares during the period. GAMMA Investing LLC boosted its holdings in shares of MP Materials by 69.3% during the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after buying an additional 1,545 shares in the last quarter. Finally, KBC Group NV grew its position in shares of MP Materials by 33.0% during the 4th quarter. KBC Group NV now owns 6,297 shares of the company’s stock worth $98,000 after buying an additional 1,564 shares during the period. Institutional investors own 52.55% of the company’s stock.

Insider Transactions at MP Materials

In other news, CFO Ryan Corbett sold 15,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now owns 214,812 shares in the company, valued at $5,799,924. This represents a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James H. Litinsky sold 386,223 shares of the firm’s 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 transaction, the chief executive officer now directly owns 15,643,076 shares in the company, valued at $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,130,835 shares of company stock valued at $29,165,987 over the last ninety days. 12.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research report on Thursday, March 20th. DA Davidson upped their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.61.

MP Materials Stock Performance

Shares of MP stock opened at $22.65 on Friday. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $24.45 and a two-hundred day simple moving average of $20.91. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $27.29. The firm has a market capitalization of $3.70 billion, a PE ratio of -38.38 and a beta of 2.24.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. Analysts forecast that MP Materials Corp. will post -0.19 EPS 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.