MP Materials (NYSE:MP) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS

MP Materials (NYSE:MP) announced its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05), Zacks reports. The company had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%.

MP Materials Price Performance

MP stock opened at $24.25 on Friday. The business’s fifty day moving average price is $20.45 and its 200 day moving average price is $17.93. MP Materials has a 12-month low of $10.02 and a 12-month high of $26.00. The company has a market capitalization of $3.96 billion, a PE ratio of -41.09 and a beta of 2.34. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MP shares. BMO Capital Markets lifted their price target on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Canaccord Genuity Group lifted their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.45.

Insider Buying and Selling at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the sale, the chief financial officer now owns 260,021 shares of the company’s stock, valued at approximately $5,590,451.50. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James H. Litinsky sold 300,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the completion of the transaction, the chief executive officer now owns 18,043,076 shares of the company’s stock, valued at approximately $364,830,996.72. The trade was a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 955,890 shares of company stock valued at $20,944,628 in the last 90 days. Company insiders own 12.60% of the company’s stock.

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.