RPg Family Wealth Advisory LLC Sells 28,503 Shares of MP Materials Corp. $MP

RPg Family Wealth Advisory LLC lessened its position in shares of MP Materials Corp. (NYSE:MP) by 26.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,710 shares of the company’s stock after selling 28,503 shares during the quarter. RPg Family Wealth Advisory LLC’s holdings in MP Materials were worth $5,212,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MP. Sound Income Strategies LLC increased its holdings in shares of MP Materials by 420.0% during the third quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after acquiring an additional 294 shares in the last quarter. Spire Wealth Management raised its stake in shares of MP Materials by 181.3% during the 2nd quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock valued at $34,000 after buying an additional 651 shares during the last quarter. Grove Bank & Trust purchased a new position in shares of MP Materials during the 3rd quarter valued at approximately $34,000. SJS Investment Consulting Inc. increased its stake in shares of MP Materials by 4,600.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock valued at $38,000 after purchasing an additional 552 shares in the last quarter. Finally, Hilltop National Bank boosted its position in MP Materials by 500.0% during the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock worth $40,000 after purchasing an additional 500 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on MP. TD Securities raised shares of MP Materials to a “strong-buy” rating in a report on Monday, February 9th. Wall Street Zen lowered shares of MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $75.00 to $74.00 in a research note on Friday, November 14th. Deutsche Bank Aktiengesellschaft raised 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 research note on Monday, November 10th. Finally, Morgan Stanley upgraded shares of MP Materials from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $68.50 to $71.00 in a research report on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $78.91.

MP Materials Trading Down 3.8%

MP opened at $61.32 on Wednesday. The stock has a market capitalization of $10.87 billion, a PE ratio of -117.92 and a beta of 1.55. MP Materials Corp. has a one year low of $18.64 and a one year high of $100.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.67 and a current ratio of 7.24. The business’s 50 day moving average price is $60.48 and its 200 day moving average price is $63.92.

Insider Activity

In related news, CFO Ryan Corbett sold 38,146 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total transaction of $2,288,760.00. Following the completion of the transaction, the chief financial officer owned 156,666 shares of the company’s stock, valued at approximately $9,399,960. This trade represents a 19.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James H. Litinsky sold 272,600 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $821,758,774.05. The trade was a 2.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 723,146 shares of company stock worth $45,767,276. 12.60% of the stock is owned by insiders.

MP Materials Profile

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.