WIM INVESTMENT MANAGEMENT Ltd Reduces Stock Holdings in MP Materials Corp. $MP

WIM INVESTMENT MANAGEMENT Ltd cut its position in MP Materials Corp. (NYSE:MP) by 70.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,925 shares of the company’s stock after selling 50,775 shares during the quarter. MP Materials comprises about 0.4% of WIM INVESTMENT MANAGEMENT Ltd’s holdings, making the stock its 15th largest position. WIM INVESTMENT MANAGEMENT Ltd’s holdings in MP Materials were worth $1,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in MP Materials by 26.5% in the 1st 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 MP Materials during the first quarter worth about $215,000. Integrated Wealth Concepts LLC purchased a new position in shares of MP Materials in the first quarter worth about $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MP Materials by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock valued at $265,000 after purchasing an additional 479 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of MP Materials by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company’s stock valued at $4,734,000 after purchasing an additional 51,348 shares during the period. Institutional investors own 52.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MP. William Blair initiated coverage on shares of MP Materials in a research note on Tuesday, January 13th. They issued an “outperform” rating for the company. Morgan Stanley raised MP Materials from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $68.50 to $71.00 in a report on Friday, December 5th. The Goldman Sachs Group started coverage on MP Materials in a report on Wednesday, November 19th. They set a “buy” rating and a $77.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, January 22nd. Finally, TD Securities upgraded shares of MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $78.91.

MP Materials Stock Up 0.4%

Shares of NYSE MP opened at $58.69 on Thursday. The business has a 50-day moving average of $59.89 and a 200-day moving average of $64.38. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of -82.67 and a beta of 1.60. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a 12 month low of $18.64 and a 12 month high of $100.25.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 272,600 shares of MP Materials stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $64.17, for a total transaction of $17,492,742.00. Following the completion of the sale, the chief executive officer owned 12,805,965 shares of the company’s stock, valued at $821,758,774.05. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ryan Corbett sold 38,146 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $60.00, for a total value of $2,288,760.00. Following the transaction, the chief financial officer owned 156,666 shares in the company, valued at $9,399,960. This trade represents a 19.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 723,146 shares of company stock worth $45,767,276. Corporate insiders own 9.50% of the company’s stock.

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.