WIM INVESTMENT MANAGEMENT Ltd Sells 50,775 Shares of MP Materials Corp. $MP

WIM INVESTMENT MANAGEMENT Ltd reduced its holdings in shares of MP Materials Corp. (NYSE:MP) by 70.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,925 shares of the company’s stock after selling 50,775 shares during the quarter. MP Materials accounts for about 0.4% of WIM INVESTMENT MANAGEMENT Ltd’s holdings, making the stock its 15th biggest holding. WIM INVESTMENT MANAGEMENT Ltd’s holdings in MP Materials were worth $1,403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Calamos Advisors LLC acquired a new position in MP Materials during the 3rd quarter worth approximately $16,726,000. Rockefeller Capital Management L.P. boosted its position in MP Materials by 132.7% in the second quarter. Rockefeller Capital Management L.P. now owns 176,984 shares of the company’s stock valued at $5,888,000 after buying an additional 100,915 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of MP Materials during the third quarter worth $670,000. Concurrent Investment Advisors LLC acquired a new position in shares of MP Materials during the third quarter worth $550,000. Finally, Pier 88 Investment Partners LLC acquired a new position in shares of MP Materials during the third quarter worth $1,089,000. Institutional investors own 52.55% of the company’s stock.

MP Materials Stock Up 0.4%

Shares of NYSE:MP opened at $58.69 on Thursday. 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 $18.64 and a 52-week high of $100.25. The business’s 50 day simple moving average is $59.89 and its two-hundred day simple moving average is $64.38. The firm has a market cap of $10.40 billion, a P/E ratio of -82.67 and a beta of 1.60.

Insider Activity at MP Materials

In other news, CEO James H. Litinsky sold 385,000 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $62.94, for a total transaction of $24,231,900.00. Following the completion of the sale, the chief executive officer directly owned 13,105,965 shares of the company’s stock, valued at $824,889,437.10. This trade represents a 2.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ryan Corbett sold 38,146 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was 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 in the company, valued at $9,399,960. This trade represents a 19.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 723,146 shares of company stock worth $45,767,276. 9.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on MP shares. Morgan Stanley upgraded MP Materials from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $68.50 to $71.00 in a research report on Friday, December 5th. Wall Street Zen downgraded MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, January 22nd. William Blair started coverage on shares of MP Materials in a report on Tuesday, January 13th. They set an “outperform” rating on the stock. Finally, TD Securities raised shares of MP Materials to a “strong-buy” rating in a research note on Monday, February 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $78.91.

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.