Activest Wealth Management Sells 600 Shares of MP Materials Corp. (NYSE:MP)

Activest Wealth Management trimmed its position in shares of MP Materials Corp. (NYSE:MP) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,930 shares of the company’s stock after selling 600 shares during the period. Activest Wealth Management’s holdings in MP Materials were worth $175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of MP. Vanguard Group Inc. increased its position in shares of MP Materials by 1.7% during the first quarter. Vanguard Group Inc. now owns 13,861,266 shares of the company’s stock worth $198,216,000 after acquiring an additional 225,554 shares during the period. Clearbridge Investments LLC increased its holdings in MP Materials by 2.4% in the 1st quarter. Clearbridge Investments LLC now owns 671,021 shares of the company’s stock worth $9,596,000 after buying an additional 15,851 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in MP Materials by 14.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 188,828 shares of the company’s stock valued at $2,700,000 after purchasing an additional 23,903 shares during the period. JT Stratford LLC acquired a new stake in MP Materials during the first quarter worth about $999,000. Finally, Westwood Holdings Group Inc. increased its holdings in shares of MP Materials by 65.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 81,621 shares of the company’s stock valued at $1,167,000 after purchasing an additional 32,354 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Up 0.4 %

NYSE:MP traded up $0.07 during trading hours on Thursday, hitting $18.30. 69,795 shares of the stock traded hands, compared to its average volume of 3,215,889. The firm has a 50 day moving average price of $17.52 and a 200 day moving average price of $15.34. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $20.85. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -33.77 and a beta of 2.23. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88.

MP Materials announced that its board has initiated a share repurchase program on Tuesday, September 3rd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 13.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have issued reports on MP. Morgan Stanley increased their price objective on shares of MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Canaccord Genuity Group cut their price target on shares of MP Materials from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. DA Davidson boosted their price objective on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Robert W. Baird boosted their target price on MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. upped their target price on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.40.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 300,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.45, for a total value of $5,535,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,221,776 shares in the company, valued at approximately $336,191,767.20. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ryan Corbett sold 15,195 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.30, for a total transaction of $278,068.50. Following the transaction, the chief financial officer now owns 295,021 shares in the company, valued at approximately $5,398,884.30. The trade was a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by company insiders.

MP Materials 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.