MP Materials Corp. (NYSE:MP) CEO Sells $9,273,214.23 in Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 386,223 shares of MP Materials stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the completion of the transaction, the chief executive officer now directly owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

MP Materials Stock Performance

Shares of NYSE:MP opened at $24.08 on Friday. The company has a 50 day moving average of $19.66 and a 200 day moving average of $17.10. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $24.80.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. The business had revenue of $62.93 million during the quarter, compared to the consensus estimate of $45.30 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. On average, sell-side analysts expect that MP Materials Corp. will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of MP Materials by 3.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company’s stock worth $37,945,000 after acquiring an additional 73,297 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in MP Materials by 32.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after buying an additional 306,933 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of MP Materials by 15.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company’s stock valued at $16,843,000 after buying an additional 144,661 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of MP Materials by 48.7% in the 4th quarter. Principal Financial Group Inc. now owns 899,698 shares of the company’s stock worth $14,035,000 after buying an additional 294,806 shares during the period. Finally, Millennium Management LLC lifted its position in MP Materials by 425.5% during the 2nd quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock valued at $10,201,000 after acquiring an additional 648,838 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on MP. Canaccord Genuity Group raised their target price on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. upped their target price on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, 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 given a buy rating to the company’s stock. According to MarketBeat.com, MP Materials has a consensus rating of “Moderate Buy” and an average price target of $22.45.

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.