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

MP Materials Corp. (NYSE:MP - Get Free Report) 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 transaction, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at $375,590,254.76. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

MP Materials Trading Up 6.9 %

Shares of MP traded up $1.66 during midday trading on Monday, hitting $25.60. 6,527,211 shares of the stock were exchanged, compared to its average volume of 3,448,381. The stock has a fifty day simple moving average of $19.72 and a 200 day simple moving average of $17.21. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $26.00. 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 firm has a market cap of $4.18 billion, a P/E ratio of -47.40 and a beta of 2.34.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.04). The business had revenue of $62.93 million for the quarter, compared to analysts' expectations of $45.30 million. MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. During the same period last year, the firm earned $0.02 earnings per share. On average, research analysts anticipate that MP Materials Corp. will post -0.54 EPS for the current fiscal year.

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Institutional Trading of MP Materials

Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in 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 during the period. Segall Bryant & Hamill LLC lifted its position in MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company's stock worth $21,988,000 after acquiring an additional 306,933 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of MP Materials by 15.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company's stock valued at $16,843,000 after purchasing an additional 144,661 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of MP Materials by 48.7% in the fourth quarter. Principal Financial Group Inc. now owns 899,698 shares of the company's stock valued at $14,035,000 after purchasing an additional 294,806 shares during the period. Finally, Millennium Management LLC raised its stake in shares of MP Materials by 425.5% during the second quarter. Millennium Management LLC now owns 801,328 shares of the company's stock worth $10,201,000 after purchasing an additional 648,838 shares during the last quarter. Hedge funds and other institutional investors own 52.55% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MP shares. BMO Capital Markets raised their price objective 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. JPMorgan Chase & Co. raised their target price on MP Materials from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Finally, 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 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 stock. According to data from MarketBeat, MP Materials currently has an average 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.