Segall Bryant & Hamill LLC Lowers Stock Position in MP Materials Corp. $MP

Segall Bryant & Hamill LLC cut its holdings in shares of MP Materials Corp. (NYSE:MP) by 62.6% during the third quarter, Holdings Channel.com reports. The firm owned 448,099 shares of the company’s stock after selling 748,803 shares during the period. Segall Bryant & Hamill LLC’s holdings in MP Materials were worth $30,054,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Calamos Advisors LLC purchased a new stake in MP Materials during the third quarter worth $16,726,000. Rockefeller Capital Management L.P. increased its holdings in shares of MP Materials by 132.7% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 176,984 shares of the company’s stock valued at $5,888,000 after acquiring an additional 100,915 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of MP Materials in the 3rd quarter worth $670,000. Concurrent Investment Advisors LLC purchased a new stake in shares of MP Materials during the 3rd quarter worth $550,000. Finally, Pier 88 Investment Partners LLC purchased a new stake in shares of MP Materials during the 3rd quarter worth $1,089,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 272,600 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the sale, the chief executive officer owned 12,805,965 shares in the company, valued at approximately $821,758,774.05. The trade was a 2.08% decrease in their position. 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 38,146 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were 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 owned 156,666 shares in the company, valued at approximately $9,399,960. This represents a 19.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 723,146 shares of company stock valued at $45,767,276. 12.60% of the stock is currently owned by insiders.

MP Materials Stock Performance

Shares of MP Materials stock opened at $63.70 on Tuesday. The firm has a market capitalization of $11.29 billion, a P/E ratio of -122.50 and a beta of 1.55. MP Materials Corp. has a 52 week low of $18.64 and a 52 week high of $100.25. The company has a quick ratio of 6.67, a current ratio of 7.24 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $60.33 and a 200 day moving average price of $64.01.

Analyst Ratings Changes

Several equities analysts have issued reports on MP shares. Wall Street Zen lowered MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. The Goldman Sachs Group assumed coverage on shares of MP Materials in a research report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research note on Thursday, January 22nd. TD Securities raised shares of MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of MP Materials from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $71.00 in a report on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $78.91.

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.