James H. Litinsky Sells 386,223 Shares of MP Materials Corp. (NYSE:MP) Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 386,223 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 15,643,076 shares of the company’s stock, valued at approximately $375,590,254.76. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

MP Materials Stock Down 0.9 %

MP opened at $23.90 on Friday. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $24.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of -44.27 and a beta of 2.34. The firm’s fifty day moving average is $19.72 and its 200 day moving average is $17.17.

MP Materials (NYSE:MP) last released its earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $45.30 million. During the same quarter in the prior year, the business posted $0.02 EPS. On average, sell-side analysts forecast that MP Materials Corp. will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MP Materials

Institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its position in shares of MP Materials by 5.0% during the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock worth $207,000 after acquiring an additional 557 shares during the last quarter. SWS Partners boosted its holdings in shares of MP Materials by 0.4% during the 4th quarter. SWS Partners now owns 162,503 shares of the company’s stock valued at $2,535,000 after purchasing an additional 707 shares during the last quarter. Cutter & CO Brokerage Inc. grew its position in shares of MP Materials by 0.5% during the third quarter. Cutter & CO Brokerage Inc. now owns 190,098 shares of the company’s stock valued at $3,355,000 after purchasing an additional 910 shares in the last quarter. Pekin Hardy Strauss Inc. increased its holdings in shares of MP Materials by 0.4% in the third quarter. Pekin Hardy Strauss Inc. now owns 255,495 shares of the company’s stock worth $4,509,000 after purchasing an additional 1,135 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of 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 buying an additional 1,246 shares in the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BMO Capital Markets upped their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. upped their target price on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, Canaccord Genuity Group boosted 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. Four investment 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, the company currently 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.