MP Materials Corp. (NYSE:MP) CEO Sells $4,342,054.50 in Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 161,175 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $26.94, for a total value of $4,342,054.50. Following the completion of the sale, the chief executive officer now directly owns 14,352,689 shares in the company, valued at $386,661,441.66. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

MP Materials Stock Performance

Shares of MP opened at $26.80 on Thursday. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The business’s 50 day moving average price is $23.11 and its 200-day moving average price is $19.56. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $27.41. The stock has a market cap of $4.38 billion, a P/E ratio of -45.42 and a beta of 2.32.

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

Institutional Trading of MP Materials

Hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in MP Materials by 44.3% in the 4th 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 during the last quarter. BNP Paribas Financial Markets purchased a new position in MP Materials in the 4th quarter worth approximately $14,886,000. Raymond James Financial Inc. purchased a new position in MP Materials in the 4th quarter worth approximately $6,284,000. HITE Hedge Asset Management LLC purchased a new position in MP Materials in the 4th quarter worth approximately $6,019,000. Finally, Two Sigma Advisers LP purchased a new position in MP Materials in the 4th quarter worth approximately $5,524,000. 52.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MP has been the topic of several research reports. DA Davidson lifted their price objective on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday. BMO Capital Markets lifted their price objective on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, Canaccord Genuity Group lifted their price objective on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.83.

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.