Insider Selling: MP Materials Corp. (NYSE:MP) CEO Sells $500,013.00 in Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 18,519 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $27.00, for a total value of $500,013.00. Following the sale, the chief executive officer now owns 13,842,256 shares of the company’s stock, valued at approximately $373,740,912. This represents a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

MP Materials Stock Down 0.8 %

NYSE:MP opened at $25.97 on Friday. The company’s 50 day moving average is $23.96 and its two-hundred day moving average is $20.18. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The company has a market cap of $4.24 billion, a PE ratio of -44.02 and a beta of 2.32. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $27.29.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The firm had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. Analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MP shares. DA Davidson upped their price objective on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, March 19th. BMO Capital Markets raised their price target on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.61.

Hedge Funds Weigh In On MP Materials

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in shares of MP Materials by 44.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company’s stock worth $101,986,000 after buying an additional 2,005,505 shares during the period. Victory Capital Management Inc. increased its holdings in 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. Dimensional Fund Advisors LP raised its position in MP Materials by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company’s stock worth $34,433,000 after acquiring an additional 176,121 shares during the period. Invesco Ltd. lifted its holdings in MP Materials by 0.4% during the fourth quarter. Invesco Ltd. now owns 2,118,580 shares of the company’s stock valued at $33,050,000 after purchasing an additional 7,453 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of MP Materials by 15.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company’s stock valued at $16,843,000 after purchasing an additional 144,661 shares during the period. Hedge funds and other institutional investors own 52.55% of the company’s stock.

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.