Insider Selling: MP Materials Corp. (NYSE:MP) CEO Sells 161,175 Shares of Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 161,175 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $26.94, for a total transaction of $4,342,054.50. Following the transaction, the chief executive officer now directly owns 14,352,689 shares in the company, valued at approximately $386,661,441.66. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

MP Materials Stock Down 0.1 %

Shares of MP Materials stock traded down $0.03 during trading on Wednesday, hitting $26.80. 2,691,828 shares of the stock traded hands, compared to its average volume of 3,095,588. The stock has a market cap of $4.38 billion, a P/E ratio of -45.42 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $27.22. The company has a fifty day moving average price of $23.11 and a two-hundred day moving average price of $19.56.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The business had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. Equities research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in MP Materials by 44.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company’s stock worth $101,986,000 after acquiring an additional 2,005,505 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of MP Materials by 3.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company’s stock valued at $37,945,000 after buying an additional 73,297 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of MP Materials by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company’s stock valued at $34,433,000 after buying an additional 176,121 shares in the last quarter. Invesco Ltd. increased its stake in shares of MP Materials by 0.4% in the fourth quarter. Invesco Ltd. now owns 2,118,580 shares of the company’s stock valued at $33,050,000 after buying an additional 7,453 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in shares of MP Materials by 32.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after buying an additional 306,933 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on MP. BMO Capital Markets upped their target price on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Canaccord Genuity Group increased their price objective on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, DA Davidson increased their price objective on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.35.

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.