Pinkerton Wealth LLC Has $956,000 Holdings in MP Materials Corp. $MP

Pinkerton Wealth LLC lessened its position in MP Materials Corp. (NYSE:MP) by 49.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,249 shares of the company’s stock after selling 14,016 shares during the period. Pinkerton Wealth LLC’s holdings in MP Materials were worth $956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of MP. Royal Bank of Canada boosted its holdings in MP Materials by 26.5% during the first quarter. Royal Bank of Canada now owns 234,185 shares of the company’s stock valued at $5,716,000 after acquiring an additional 49,052 shares during the period. AQR Capital Management LLC bought a new position in shares of MP Materials in the first quarter worth about $215,000. Integrated Wealth Concepts LLC bought a new position in shares of MP Materials in the first quarter worth about $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of MP Materials by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock worth $265,000 after purchasing an additional 479 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of MP Materials by 36.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company’s stock worth $4,734,000 after purchasing an additional 51,348 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MP. DA Davidson reaffirmed a “buy” rating and issued a $82.00 target price on shares of MP Materials in a report on Wednesday, February 18th. JPMorgan Chase & Co. upgraded MP Materials from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $75.00 to $74.00 in a report on Friday, November 14th. BMO Capital Markets raised shares of MP Materials from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $76.00 to $75.00 in a report on Monday, November 24th. William Blair restated an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. Finally, Morgan Stanley raised shares of MP Materials from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $68.50 to $71.00 in a research report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $78.91.

Insider Buying and Selling at MP Materials

In other news, CEO James H. Litinsky sold 272,600 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 12,805,965 shares of the company’s stock, valued at approximately $821,758,774.05. This represents a 2.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.60% of the company’s stock.

MP Materials Stock Performance

Shares of NYSE:MP opened at $60.35 on Tuesday. The stock has a market capitalization of $10.70 billion, a price-to-earnings ratio of -116.06 and a beta of 1.55. The business’s fifty day moving average price is $60.96 and its two-hundred day moving average price is $63.64. MP Materials Corp. has a fifty-two week low of $18.64 and a fifty-two week high of $100.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.24 and a quick ratio of 6.67.

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.