Insider Selling: MP Materials Corp. (NYSE:MP) CEO Sells 489,918 Shares of Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 489,918 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $26.77, for a total value of $13,115,104.86. Following the sale, the chief executive officer now owns 15,153,158 shares in the company, valued at $405,650,039.66. The trade was a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

MP Materials Stock Down 1.7 %

MP opened at $25.81 on Friday. The stock’s 50 day moving average price is $23.36 and its 200 day moving average price is $19.69. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The stock has a market cap of $4.22 billion, a P/E ratio of -43.75 and a beta of 2.32. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $27.29.

MP Materials (NYSE:MP) last issued 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 firm had revenue of $60.99 million for 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, research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MP shares. BMO Capital Markets increased their price target on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research report on Thursday. DA Davidson increased their price target on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Canaccord Genuity Group raised their target price on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MP Materials has a consensus rating of “Moderate Buy” and a consensus target price of $23.61.

Institutional Investors Weigh In On MP Materials

Several large investors have recently modified their holdings of MP. KBC Group NV lifted its holdings 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 valued at $84,000 after purchasing an additional 1,246 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of MP Materials by 7.9% in the third quarter. OneDigital Investment Advisors LLC now owns 70,167 shares of the company’s stock valued at $1,238,000 after purchasing an additional 5,123 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of MP Materials by 197.0% in the third 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 in the last quarter. Quest Partners LLC lifted its holdings in shares of MP Materials by 806.0% in the third 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 in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of MP Materials by 32.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after purchasing an additional 306,933 shares in the last quarter. 52.55% of the stock is owned by institutional investors.

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.