Insider Selling: MP Materials Corp. (NYSE:MP) CEO Sells 199,180 Shares of Stock

MP Materials Corp. (NYSE:MP - Get Free Report) CEO James H. Litinsky sold 199,180 shares of MP Materials stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $27.08, for a total value of $5,393,794.40. Following the transaction, the chief executive officer now directly owns 13,643,076 shares in the company, valued at $369,454,498.08. The trade was a 1.44 % 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 Up 10.1 %

NYSE:MP traded up $2.53 on Wednesday, hitting $27.60. The stock had a trading volume of 18,045,181 shares, compared to its average volume of 3,366,421. The company has a market cap of $4.51 billion, a PE ratio of -46.78 and a beta of 2.24. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $29.72. The business's fifty day moving average is $24.63 and its 200 day moving average is $21.07. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. On average, equities research analysts expect that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MP. DA Davidson raised their price target on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. BMO Capital Markets boosted their target price 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $23.61.

Institutional Trading of MP Materials

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MP. NBC Securities Inc. raised its position in MP Materials by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock valued at $29,000 after buying an additional 1,199 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after acquiring an additional 701 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of MP Materials during the fourth quarter valued at approximately $40,000. Geneos Wealth Management Inc. grew its stake in MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock valued at $43,000 after purchasing an additional 1,849 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in MP Materials by 204.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock valued at $51,000 after buying an additional 2,200 shares during the period. 52.55% of the stock is owned by institutional investors.

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.

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