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 value of $9,273,214.23. Following the completion of the sale, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at $375,590,254.76. This trade 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 Price Performance
MP traded down $0.21 during trading on Friday, hitting $23.90. 3,881,800 shares of the stock traded hands, compared to its average volume of 2,852,481. The business has a 50 day moving average price of $19.72 and a 200 day moving average price of $17.21. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -44.27 and a beta of 2.34. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $24.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.
MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. The business had revenue of $62.93 million for the quarter, compared to the consensus estimate of $45.30 million. During the same quarter in the prior year, the company earned $0.02 earnings per share. Equities research analysts forecast that MP Materials Corp. will post -0.54 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in MP Materials by 425.5% in the 2nd 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of MP Materials in the fourth quarter valued at approximately $6,284,000. Segall Bryant & Hamill LLC raised its holdings in MP Materials by 32.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company's stock valued at $21,988,000 after buying an additional 306,933 shares during the last quarter. Principal Financial Group Inc. boosted its position in MP Materials by 48.7% during the 4th quarter. Principal Financial Group Inc. now owns 899,698 shares of the company's stock worth $14,035,000 after buying an additional 294,806 shares during the period. Finally, Wealthfront Advisers LLC bought a new stake in MP Materials during the 4th quarter worth approximately $4,484,000. Institutional investors own 52.55% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. BMO Capital Markets lifted 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. lifted their price target on shares of 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 MP Materials from $23.00 to $26.00 and gave the company 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 given a buy rating to the stock. According to data from MarketBeat.com, MP Materials presently has an average rating of "Moderate Buy" and an average price target of $22.45.
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MP Materials Company Profile
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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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