MP Materials (NYSE:MP) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

MP Materials (NYSE:MP) announced its earnings results on Thursday. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05), Zacks reports. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%.

MP Materials Stock Up 1.1 %

Shares of MP stock traded up $0.26 during trading hours on Thursday, reaching $23.25. 1,917,136 shares of the stock were exchanged, compared to its average volume of 3,277,531. The business’s fifty day moving average is $20.28 and its two-hundred day moving average is $17.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials has a 12-month low of $10.02 and a 12-month high of $26.00. The firm has a market capitalization of $3.79 billion, a P/E ratio of -43.05 and a beta of 2.34.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets raised 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. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.45.

Insider Activity at MP Materials

In other MP Materials news, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the sale, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $5,590,451.50. The trade was a 11.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the sale, the chief executive officer now owns 18,043,076 shares in the company, valued at $364,830,996.72. The trade was a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 955,890 shares of company stock valued at $20,944,628 over the last three months. 12.60% of the stock is owned by corporate insiders.

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.