MP Materials Corp. (NYSE:MP) CFO Ryan Corbett Sells 15,000 Shares

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 15,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, March 14th, Ryan Corbett sold 60,000 shares of MP Materials stock. The stock was sold at an average price of $25.51, for a total value of $1,530,600.00.

MP Materials Trading Up 0.6 %

MP stock traded up $0.17 during midday trading on Tuesday, hitting $26.86. 4,308,476 shares of the company’s stock were exchanged, compared to its average volume of 3,108,582. The stock’s fifty day moving average price is $22.83 and its 200-day moving average price is $19.41. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The company has a market cap of $4.39 billion, a PE ratio of -45.53 and a beta of 2.32. MP Materials Corp. has a one year low of $10.02 and a one year high of $27.06.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) 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 firm had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. Research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

MP has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price target on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. BMO Capital Markets raised their price target on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.45.

Institutional Trading of MP Materials

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oak Family Advisors LLC acquired a new stake in shares of MP Materials in the fourth quarter valued at about $530,000. Segall Bryant & Hamill LLC boosted its holdings in shares of MP Materials by 32.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after acquiring an additional 306,933 shares during the period. Quest Partners LLC boosted its holdings in shares of MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock worth $758,000 after acquiring an additional 38,204 shares during the period. SG Americas Securities LLC boosted its holdings in shares of MP Materials by 167.3% during the fourth quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock worth $560,000 after acquiring an additional 22,473 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of MP Materials in the third quarter valued at approximately $2,300,000. Institutional investors and hedge funds own 52.55% 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.