Insider Selling: MP Materials Corp. (NYSE:MP) CFO Sells 60,000 Shares of Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 60,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the completion of the sale, the chief financial officer now owns 230,100 shares of the company’s stock, valued at $5,869,851. This represents a 20.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ryan Corbett also recently made the following trade(s):

• On Monday, March 17th, Ryan Corbett sold 15,000 shares of MP Materials stock. The stock was sold at an average price of $27.00, for a total value of $405,000.00.

MP Materials Stock Performance

MP opened at $26.80 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of -45.42 and a beta of 2.32. The business’s 50-day moving average price is $23.11 and its two-hundred day moving average price is $19.56. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $27.41.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MP. Aegis Wealth Management LLC acquired a new stake in MP Materials in the 4th quarter valued at $156,000. Pullen Investment Management LLC raised its holdings in MP Materials by 32.4% during the fourth quarter. Pullen Investment Management LLC now owns 31,026 shares of the company’s stock worth $484,000 after acquiring an additional 7,590 shares in the last quarter. JT Stratford LLC boosted its position in MP Materials by 0.7% during the fourth quarter. JT Stratford LLC now owns 63,685 shares of the company’s stock valued at $993,000 after purchasing an additional 424 shares during the last quarter. Delta Investment Management LLC grew its stake in MP Materials by 3.6% in the fourth quarter. Delta Investment Management LLC now owns 22,025 shares of the company’s stock valued at $344,000 after purchasing an additional 767 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new position in shares of MP Materials during the 4th quarter worth approximately $5,524,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. 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 research note on Monday, January 27th. DA Davidson lifted their target price on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Canaccord Genuity Group increased their price target on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.83.

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.