Krane Funds Advisors LLC Sells 1,097 Shares of MP Materials Corp. (NYSE:MP)

Krane Funds Advisors LLC cut its stake in shares of MP Materials Corp. (NYSE:MP) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,999 shares of the company’s stock after selling 1,097 shares during the period. MP Materials comprises approximately 0.0% of Krane Funds Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Krane Funds Advisors LLC’s holdings in MP Materials were worth $1,416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. NBC Securities Inc. grew its holdings in shares of MP Materials by 119,900.0% in the first quarter. NBC Securities Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,199 shares in the last quarter. Quadrant Capital Group LLC grew its stake in MP Materials by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after purchasing an additional 701 shares during the period. SBI Securities Co. Ltd. bought a new position in MP Materials in the 4th quarter valued at $40,000. CX Institutional purchased a new stake in shares of MP Materials during the 1st quarter valued at $79,000. Finally, CENTRAL TRUST Co raised its stake in shares of MP Materials by 20.6% during the 1st quarter. CENTRAL TRUST Co now owns 3,965 shares of the company’s stock worth $97,000 after purchasing an additional 678 shares during the period. 52.55% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO James H. Litinsky sold 199,180 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the sale, the chief executive officer directly owned 13,643,076 shares in the company, valued at approximately $369,454,498.08. The trade was a 1.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.60% of the stock is currently owned by corporate insiders.

MP Materials Price Performance

MP opened at $31.44 on Wednesday. The firm has a 50-day moving average price of $26.07 and a 200-day moving average price of $23.72. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $39.10. The company has a quick ratio of 3.58, a current ratio of 4.12 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of -48.37 and a beta of 2.25.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative return on equity of 9.77% and a negative net margin of 48.41%. The business had revenue of $60.81 million during the quarter, compared to the consensus estimate of $64.74 million. During the same period last year, the business posted ($0.04) earnings per share. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. Equities analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson increased their price target on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. Morgan Stanley raised shares of MP Materials from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $23.00 to $34.00 in a research report on Thursday, June 5th. JPMorgan Chase & Co. decreased their price target on shares of MP Materials from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, May 12th. Robert W. Baird lifted their price target on shares of MP Materials from $30.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, June 17th. Finally, BMO Capital Markets upped their price objective on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.44.

MP Materials Company Profile

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.