James H. Litinsky Sells 386,223 Shares of MP Materials Corp. (NYSE:MP) Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 386,223 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the transaction, the chief executive officer now owns 15,643,076 shares of the company’s stock, valued at $375,590,254.76. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

MP Materials Stock Performance

MP stock opened at $23.90 on Friday. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of -44.27 and a beta of 2.34. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $24.80. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The business’s fifty day simple moving average is $19.72 and its two-hundred day simple moving average is $17.17.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The company had revenue of $62.93 million for the quarter, compared to the consensus estimate of $45.30 million. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. During the same quarter in the previous year, the business earned $0.02 EPS. Analysts predict that MP Materials Corp. will post -0.54 earnings per share for the current year.

Institutional Trading of MP Materials

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in MP Materials by 136.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after purchasing an additional 1,285 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of MP Materials during the fourth quarter valued at $40,000. Geneos Wealth Management Inc. lifted its stake in MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after acquiring an additional 1,849 shares during the period. Nisa Investment Advisors LLC grew its holdings in MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Signaturefd LLC increased its position in MP Materials by 817.5% during the 3rd quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after purchasing an additional 3,262 shares during the period. Institutional investors own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MP. Canaccord Genuity Group lifted their price target on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets lifted their target price on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their price target on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

About MP Materials

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.