Insider Selling: MP Materials Corp. (NYSE:MP) CEO Sells 18,519 Shares of Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 18,519 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $27.00, for a total transaction of $500,013.00. Following the sale, the chief executive officer now owns 13,842,256 shares of the company’s stock, valued at $373,740,912. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

MP Materials Stock Up 0.6 %

NYSE:MP traded up $0.15 during trading hours on Thursday, hitting $26.21. 2,147,223 shares of the company’s stock traded hands, compared to its average volume of 3,097,170. The stock’s fifty day moving average price is $23.86 and its two-hundred day moving average price is $20.05. The firm has a market cap of $4.28 billion, a P/E ratio of -44.42 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $27.29.

MP Materials (NYSE:MP) last issued its earnings results 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 business had revenue of $60.99 million during 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, research analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MP. BMO Capital Markets raised their price objective on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research note on Thursday, March 20th. Canaccord Genuity Group upped their target price on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, DA Davidson lifted their price target on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.61.

Institutional Investors Weigh In On MP Materials

A number of institutional investors have recently modified their holdings of the stock. Aegis Wealth Management LLC acquired a new position in shares of MP Materials in the fourth quarter worth $156,000. Pullen Investment Management LLC grew its stake in MP Materials by 32.4% in the fourth quarter. Pullen Investment Management LLC now owns 31,026 shares of the company’s stock valued at $484,000 after purchasing an additional 7,590 shares in the last quarter. JT Stratford LLC increased its position in MP Materials by 0.7% in the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company’s stock worth $993,000 after purchasing an additional 424 shares during the last quarter. Delta Investment Management LLC raised its stake in shares of MP Materials by 3.6% during the 4th quarter. Delta Investment Management LLC now owns 22,025 shares of the company’s stock worth $344,000 after purchasing an additional 767 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of MP Materials during the 4th quarter valued at about $5,524,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.