MP Materials Corp. (NYSE:MP) CFO Ryan Corbett Sells 60,000 Shares

MP Materials Corp. (NYSE:MP - Get Free Report) CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $25.51, for a total value of $1,530,600.00. Following 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 filing with the SEC, which is available at the SEC website.

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

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

MP Materials Stock Down 1.7 %

Shares of MP Materials stock traded down $0.44 on Friday, reaching $25.81. 4,608,256 shares of the company were exchanged, compared to its average volume of 3,098,306. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -43.75 and a beta of 2.32. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a one year low of $10.02 and a one year high of $27.29. The company has a 50-day moving average of $23.36 and a 200 day moving average of $19.69.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). The firm had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. On average, equities research analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

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Wall Street Analysts Forecast Growth

MP has been the topic of several research reports. BMO Capital Markets boosted their price objective on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research report on Thursday. DA Davidson upped their price objective on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Canaccord Genuity Group lifted their target price on MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, MP Materials currently has a consensus rating of "Moderate Buy" and an average target price of $23.61.

Hedge Funds Weigh In On MP Materials

Institutional investors have recently bought and sold shares of the business. JT Stratford LLC increased its holdings in shares of MP Materials by 0.7% during the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company's stock worth $993,000 after acquiring an additional 424 shares during the last quarter. Captrust Financial Advisors boosted its position in MP Materials by 5.0% during the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company's stock worth $207,000 after purchasing an additional 557 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of MP Materials by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock valued at $322,000 after purchasing an additional 662 shares during the last quarter. Quadrant Capital Group LLC raised its position 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 purchasing an additional 701 shares during the period. Finally, SWS Partners lifted its stake in shares of MP Materials by 0.4% during the 4th quarter. SWS Partners now owns 162,503 shares of the company's stock worth $2,535,000 after buying an additional 707 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company's stock.

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.