MP Materials Corp. (NYSE:MP) CEO Sells $13,115,104.86 in Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 489,918 shares of MP Materials stock in a transaction on Monday, March 17th. The shares were sold at an average price of $26.77, for a total transaction of $13,115,104.86. Following the transaction, the chief executive officer now owns 15,153,158 shares in the company, valued at approximately $405,650,039.66. This trade represents a 3.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

MP Materials Price Performance

Shares of MP Materials stock traded down $0.03 during trading hours on Wednesday, reaching $26.80. The stock had a trading volume of 2,691,828 shares, compared to its average volume of 3,095,588. The stock’s 50 day moving average is $23.11 and its 200 day moving average is $19.56. The firm has a market capitalization of $4.38 billion, a PE ratio of -45.42 and a beta of 2.32. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $27.22. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88.

MP Materials (NYSE:MP) last issued 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 firm had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. Equities analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Oak Family Advisors LLC acquired a new position in shares of MP Materials in the fourth quarter worth about $530,000. Segall Bryant & Hamill LLC raised its position in shares of MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after purchasing an additional 306,933 shares during the last quarter. Quest Partners LLC raised its position in shares of MP Materials by 806.0% during the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock worth $758,000 after purchasing an additional 38,204 shares during the last quarter. SG Americas Securities LLC raised its position in shares of MP Materials by 167.3% during the 4th quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock worth $560,000 after purchasing an additional 22,473 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of MP Materials during the 3rd quarter worth about $2,300,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MP. BMO Capital Markets boosted their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. DA Davidson boosted their price target on shares of MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group boosted their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.35.

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.