Moody National Bank Trust Division Cuts Stock Holdings in MP Materials Corp. $MP

Moody National Bank Trust Division decreased its position in MP Materials Corp. (NYSE:MP) by 65.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,621 shares of the company’s stock after selling 31,567 shares during the quarter. Moody National Bank Trust Division’s holdings in MP Materials were worth $1,115,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its position in shares of MP Materials by 132.7% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 176,984 shares of the company’s stock valued at $5,888,000 after purchasing an additional 100,915 shares during the last quarter. Ballentine Partners LLC bought a new stake in MP Materials in the second quarter worth about $241,000. Rothschild Investment LLC purchased a new position in MP Materials in the second quarter valued at about $168,000. Valeo Financial Advisors LLC bought a new position in shares of MP Materials during the 2nd quarter valued at approximately $14,998,000. Finally, Pinkerton Wealth LLC purchased a new stake in shares of MP Materials during the 2nd quarter worth approximately $940,000. 52.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on MP shares. DA Davidson reiterated a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a research note on Thursday, November 20th. Deutsche Bank Aktiengesellschaft raised MP Materials from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $71.00 in a research report on Monday, November 10th. Wall Street Zen lowered MP Materials from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Benchmark restated a “buy” rating on shares of MP Materials in a research note on Friday, August 29th. Finally, Morgan Stanley upgraded shares of MP Materials from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $68.50 to $71.00 in a research report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MP Materials presently has an average rating of “Moderate Buy” and a consensus target price of $78.91.

Insider Buying and Selling

In other MP Materials news, CEO James H. Litinsky sold 385,000 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $62.94, for a total value of $24,231,900.00. Following the sale, the chief executive officer directly owned 13,105,965 shares in the company, valued at $824,889,437.10. This represents a 2.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ryan Corbett sold 38,146 shares of the firm’s stock in a transaction 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 691,557 shares of company stock worth $43,538,586 in the last ninety days. 9.50% of the stock is currently owned by insiders.

MP Materials Stock Performance

Shares of MP opened at $52.09 on Thursday. The stock’s 50-day simple moving average is $64.29 and its 200 day simple moving average is $58.90. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of -73.37 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 7.51 and a current ratio of 8.05. MP Materials Corp. has a 52-week low of $15.56 and a 52-week high of $100.25.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.05. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The business had revenue of $53.55 million during the quarter, compared to analyst estimates of $49.72 million. During the same quarter in the previous year, the firm earned ($0.12) EPS. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. Research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

About MP Materials

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.