Brown Advisory Securities LLC Has $247,000 Holdings in MP Materials Corp. (NYSE:MP)

Brown Advisory Securities LLC cut its stake in shares of MP Materials Corp. (NYSE:MPGet Rating) by 41.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,300 shares of the company’s stock after selling 3,000 shares during the quarter. Brown Advisory Securities LLC’s holdings in MP Materials were worth $247,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First Trust Advisors LP grew its stake in shares of MP Materials by 18.2% in the fourth quarter. First Trust Advisors LP now owns 1,649,046 shares of the company’s stock worth $74,900,000 after purchasing an additional 253,712 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of MP Materials by 17.1% in the fourth quarter. Geode Capital Management LLC now owns 1,325,011 shares of the company’s stock worth $60,181,000 after purchasing an additional 193,078 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of MP Materials by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 734,440 shares of the company’s stock worth $33,359,000 after purchasing an additional 20,937 shares during the last quarter. Northern Trust Corp grew its stake in shares of MP Materials by 1.7% in the fourth quarter. Northern Trust Corp now owns 719,981 shares of the company’s stock worth $32,702,000 after purchasing an additional 11,974 shares during the last quarter. Finally, Hartline Investment Corp grew its stake in shares of MP Materials by 11.7% in the fourth quarter. Hartline Investment Corp now owns 480,852 shares of the company’s stock worth $21,840,000 after purchasing an additional 50,443 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MP Materials news, Director Randall J. Weisenburger bought 30,000 shares of the stock in a transaction that occurred on Thursday, June 16th. The shares were bought at an average price of $33.25 per share, for a total transaction of $997,500.00. Following the acquisition, the director now directly owns 146,901 shares of the company’s stock, valued at approximately $4,884,458.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MP Materials news, Director Financial Lp Qvt sold 241,632 shares of the stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $40.20, for a total value of $9,713,606.40. Following the completion of the sale, the director now owns 1,388,063 shares in the company, valued at approximately $55,800,132.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Randall J. Weisenburger acquired 30,000 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was purchased at an average price of $33.25 per share, with a total value of $997,500.00. Following the purchase, the director now owns 146,901 shares in the company, valued at approximately $4,884,458.25. The disclosure for this purchase can be found here. Insiders have sold 535,289 shares of company stock worth $21,550,078 in the last quarter. Insiders own 49.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Northland Securities reaffirmed an “outperform” rating and set a $60.00 price target on shares of MP Materials in a research report on Monday, June 6th. Robert W. Baird upped their price target on shares of MP Materials from $45.00 to $55.00 in a research report on Friday. Morgan Stanley upped their price target on shares of MP Materials from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, June 7th. Canaccord Genuity Group assumed coverage on shares of MP Materials in a research report on Wednesday, July 13th. They set a “buy” rating on the stock. Finally, Canaccord Genuity Group assumed coverage on shares of MP Materials in a research report on Wednesday, July 13th. They set a “buy” rating and a $44.00 price target on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $50.25.

MP Materials Price Performance

Shares of NYSE MP opened at $38.48 on Friday. The company has a current ratio of 25.52, a quick ratio of 24.76 and a debt-to-equity ratio of 0.62. MP Materials Corp. has a 1-year low of $27.48 and a 1-year high of $60.19. The firm has a market capitalization of $6.83 billion, a P/E ratio of 29.15, a P/E/G ratio of 1.71 and a beta of 2.93. The firm’s 50-day moving average price is $33.71 and its 200-day moving average price is $39.91.

MP Materials (NYSE:MPGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. MP Materials had a net margin of 49.26% and a return on equity of 26.14%. The company had revenue of $143.50 million for the quarter, compared to analyst estimates of $128.75 million. During the same quarter in the prior year, the business posted $0.15 EPS. The firm’s revenue was up 96.3% compared to the same quarter last year. Equities research analysts anticipate that MP Materials Corp. will post 1.32 earnings per share for the current fiscal year.

About MP Materials

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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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Institutional Ownership by Quarter for MP Materials (NYSE:MP)

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