MP Materials Corp. $MP Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of MP Materials Corp. (NYSE:MP) by 63.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,110 shares of the company’s stock after selling 60,141 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MP Materials were worth $2,288,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in MP. Sound Income Strategies LLC lifted its holdings in MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock worth $26,000 after buying an additional 294 shares in the last quarter. Spire Wealth Management increased its position in shares of MP Materials by 181.3% during the second quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock worth $34,000 after acquiring an additional 651 shares during the period. Grove Bank & Trust acquired a new stake in shares of MP Materials in the third quarter valued at $34,000. SJS Investment Consulting Inc. boosted its holdings in MP Materials by 4,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock valued at $38,000 after purchasing an additional 552 shares during the period. Finally, Hilltop National Bank boosted its holdings in MP Materials by 500.0% in the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock valued at $40,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MP. TD Securities raised MP Materials to a “strong-buy” rating in a research report on Monday. Bank of America upped their target price on shares of MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group began coverage on shares of MP Materials in a research note on Wednesday, November 19th. They issued a “buy” rating and a $77.00 price target for the company. William Blair started coverage on shares of MP Materials in a report on Tuesday, January 13th. They set an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of MP Materials from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $71.00 in a report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.91.

Insider Buying and Selling at MP Materials

In other news, CFO Ryan Corbett sold 38,146 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total value of $2,288,760.00. Following the completion of the sale, the chief financial officer directly owned 156,666 shares of the company’s stock, valued at approximately $9,399,960. The trade was a 19.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James H. Litinsky sold 272,600 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $64.17, for a total value of $17,492,742.00. Following the completion of the sale, the chief executive officer directly owned 12,805,965 shares of the company’s stock, valued at approximately $821,758,774.05. This trade represents a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 991,557 shares of company stock worth $62,785,202 over the last quarter. 12.60% of the stock is owned by company insiders.

MP Materials Stock Down 0.6%

Shares of NYSE:MP opened at $62.40 on Wednesday. The firm has a 50 day simple moving average of $59.92 and a 200-day simple moving average of $64.99. MP Materials Corp. has a twelve month low of $18.64 and a twelve month high of $100.25. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $11.06 billion, a PE ratio of -87.89 and a beta of 1.60.

About MP Materials

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.