MP Materials Corp. (NYSE:MP) CEO Sells $500,013.00 in Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 18,519 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $27.00, for a total transaction of $500,013.00. Following the completion of the transaction, the chief executive officer now directly owns 13,842,256 shares in the company, valued at approximately $373,740,912. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

MP Materials Trading Down 0.8 %

Shares of MP stock opened at $25.97 on Friday. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $27.29. The firm has a market cap of $4.24 billion, a PE ratio of -44.02 and a beta of 2.32. The company has a 50-day moving average of $23.96 and a two-hundred day moving average of $20.18. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

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 analysts’ consensus estimates of ($0.09) by ($0.05). The company had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. On average, analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Institutional Investors Weigh In On MP Materials

Institutional investors and hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in MP Materials by 197.0% during the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock worth $1,696,000 after purchasing an additional 63,751 shares during the period. Cerity Partners LLC increased its stake in MP Materials by 160.1% during the 3rd quarter. Cerity Partners LLC now owns 30,762 shares of the company’s stock worth $543,000 after buying an additional 18,934 shares during the period. FMR LLC lifted its holdings in MP Materials by 673.5% during the 3rd quarter. FMR LLC now owns 25,432 shares of the company’s stock worth $449,000 after buying an additional 22,144 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in MP Materials by 8.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 190,340 shares of the company’s stock valued at $3,360,000 after buying an additional 15,407 shares during the period. Finally, Public Sector Pension Investment Board acquired a new position in shares of MP Materials in the third quarter worth $4,584,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, March 20th. DA Davidson boosted their price objective on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.61.

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.