MP Materials Corp. (NYSE:MP) CEO James H. Litinsky Sells 199,180 Shares

MP Materials Corp. (NYSE:MPGet Free Report) CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the transaction, the chief executive officer now directly owns 13,643,076 shares of the company’s stock, valued at $369,454,498.08. This represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

MP Materials Stock Up 10.1 %

NYSE:MP opened at $27.60 on Thursday. The company has a market cap of $4.51 billion, a price-to-earnings ratio of -46.78 and a beta of 2.24. 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 stock’s fifty day moving average price is $24.63 and its two-hundred day moving average price is $21.07. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $29.72.

MP Materials (NYSE:MPGet Free Report) last issued 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). The firm had revenue of $60.99 million for 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%. On average, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on MP shares. BMO Capital Markets raised their price objective on shares of 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 raised their price target on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.61.

Get Our Latest Analysis on MP Materials

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. FMR LLC boosted its stake in MP Materials by 673.5% in the third quarter. FMR LLC now owns 25,432 shares of the company’s stock valued at $449,000 after acquiring an additional 22,144 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of MP Materials by 5.0% in the 3rd quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock worth $207,000 after purchasing an additional 557 shares during the last quarter. M&T Bank Corp grew its stake in shares of MP Materials by 82.3% during the third quarter. M&T Bank Corp now owns 46,607 shares of the company’s stock worth $823,000 after purchasing an additional 21,034 shares during the period. Tidal Investments LLC increased its holdings in MP Materials by 47.5% in the third quarter. Tidal Investments LLC now owns 72,826 shares of the company’s stock valued at $1,285,000 after purchasing an additional 23,441 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in MP Materials by 35.7% during the third quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after buying an additional 159,200 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

About MP Materials

(Get Free Report)

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.

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