CENTRAL TRUST Co grew its holdings in MP Materials Corp. (NYSE:MP – Get Rating) by 29.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 43,441 shares of the company’s stock after purchasing an additional 9,783 shares during the quarter. CENTRAL TRUST Co’s holdings in MP Materials were worth $1,973,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC raised its stake in shares of MP Materials by 450.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,650 shares of the company’s stock valued at $75,000 after acquiring an additional 1,350 shares during the period. Strs Ohio purchased a new position in shares of MP Materials in the 4th quarter valued at $77,000. Nisa Investment Advisors LLC raised its stake in shares of MP Materials by 156.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,850 shares of the company’s stock valued at $74,000 after acquiring an additional 1,130 shares during the period. CWM LLC purchased a new position in shares of MP Materials in the 4th quarter valued at $88,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of MP Materials in the 3rd quarter valued at $83,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Randall J. Weisenburger acquired 30,000 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was bought at an average cost of $38.40 per share, with a total value of $1,152,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James H. Litinsky sold 3,750,000 shares of MP Materials stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $43.50, for a total transaction of $163,125,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,935,876 shares of company stock valued at $216,329,320. 49.70% of the stock is owned by company insiders.
MP Materials (NYSE:MP – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The firm had revenue of $99.10 million for the quarter, compared to the consensus estimate of $98.47 million. MP Materials had a net margin of 40.68% and a return on equity of 15.65%. The firm’s quarterly revenue was up 134.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. As a group, analysts predict that MP Materials Corp. will post 1.26 EPS for the current year.
A number of equities analysts have recently commented on the stock. Morgan Stanley cut their target price on shares of MP Materials from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Benchmark raised shares of MP Materials from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Wednesday, February 9th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $47.00.
MP Materials Company Profile (Get Rating)
MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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.
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