MP Materials Corp. (NYSE:MP) CEO Sells $4,342,054.50 in Stock

MP Materials Corp. (NYSE:MP - Get Free Report) CEO James H. Litinsky sold 161,175 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $26.94, for a total value of $4,342,054.50. Following the sale, the chief executive officer now owns 14,352,689 shares of the company's stock, valued at $386,661,441.66. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

MP Materials Trading Down 1.7 %

Shares of MP Materials stock traded down $0.44 during trading hours on Friday, hitting $25.81. The company's stock had a trading volume of 4,608,256 shares, compared to its average volume of 3,102,723. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $27.29. The firm has a fifty day moving average of $23.36 and a 200-day moving average of $19.78. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of -43.75 and a beta of 2.32. 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 - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. Research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current year.

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Hedge Funds Weigh In On MP Materials

Several hedge funds have recently bought and sold shares of MP. Price T Rowe Associates Inc. MD lifted its stake 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 acquiring an additional 2,005,505 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in MP Materials during the 4th quarter worth about $14,886,000. Raymond James Financial Inc. purchased a new stake in MP Materials during the 4th quarter worth about $6,284,000. HITE Hedge Asset Management LLC purchased a new stake in MP Materials during the 4th quarter worth about $6,019,000. Finally, Two Sigma Advisers LP purchased a new stake in MP Materials during the 4th quarter worth about $5,524,000. Institutional investors and hedge funds own 52.55% of the company's stock.

Analysts Set New Price Targets

MP has been the subject of several analyst reports. DA Davidson upped their target price on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday. 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 report on Wednesday, November 27th. Finally, BMO Capital Markets upped their price target on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research note on Thursday. 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 has a consensus rating of "Moderate Buy" and a consensus target price of $23.61.

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.