Ryan Corbett Sells 60,000 Shares of MP Materials Corp. (NYSE:MP) Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $25.51, for a total value of $1,530,600.00. Following the sale, the chief financial officer now directly owns 230,100 shares in the company, valued at approximately $5,869,851. This trade represents a 20.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ryan Corbett also recently made the following trade(s):

• On Monday, March 17th, Ryan Corbett sold 15,000 shares of MP Materials stock. The stock was sold at an average price of $27.00, for a total value of $405,000.00.

MP Materials Stock Down 0.1 %

NYSE MP opened at $26.80 on Thursday. The stock’s 50 day simple moving average is $23.11 and its 200 day simple moving average is $19.56. 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 Corp. has a one year low of $10.02 and a one year high of $27.41. The firm has a market cap of $4.38 billion, a PE ratio of -45.42 and a beta of 2.32.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) 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 the consensus estimate of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. As a group, sell-side analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of MP Materials

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in shares of MP Materials by 35.7% in the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock valued at $10,676,000 after buying an additional 159,200 shares during the period. KBC Group NV increased its position in MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after purchasing an additional 1,246 shares during the period. OneDigital Investment Advisors LLC raised its holdings in MP Materials by 7.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 70,167 shares of the company’s stock worth $1,238,000 after purchasing an additional 5,123 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in MP Materials by 197.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock valued at $1,696,000 after purchasing an additional 63,751 shares during the period. Finally, Quest Partners LLC boosted its stake in shares of MP Materials by 806.0% in the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after purchasing an additional 38,204 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MP. 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 research note on Wednesday, November 27th. BMO Capital Markets raised their price objective on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Finally, DA Davidson upped their target price on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.83.

MP Materials Company Profile

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.