Insider Selling: MP Materials Corp. (NYSE:MP) CFO Sells 60,000 Shares of Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the completion of the transaction, the chief financial officer now owns 230,100 shares in the company, valued at approximately $5,869,851. This represents a 20.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

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

MP Materials Price Performance

MP stock traded up $0.17 during trading on Tuesday, reaching $26.86. 4,308,476 shares of the company were exchanged, compared to its average volume of 3,108,582. The company has a market cap of $4.39 billion, a P/E ratio of -45.53 and a beta of 2.32. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $27.06. The stock’s 50 day moving average price is $22.83 and its 200 day moving average price is $19.41. 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 (NYSE:MP) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The company had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. As a group, analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MP. Price T Rowe Associates Inc. MD increased its position in 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 purchasing an additional 2,005,505 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of MP Materials by 3.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company’s stock worth $37,945,000 after buying an additional 73,297 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 176,121 shares in the last quarter. Invesco Ltd. lifted its stake in MP Materials by 0.4% during the fourth quarter. Invesco Ltd. now owns 2,118,580 shares of the company’s stock worth $33,050,000 after purchasing an additional 7,453 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in MP Materials by 32.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after purchasing an additional 306,933 shares during the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MP. BMO Capital Markets boosted their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Canaccord Genuity Group boosted their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.