MP Materials Corp. (NYSE:MP - Get Free Report) CEO James H. Litinsky sold 489,918 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $26.77, for a total transaction of $13,115,104.86. Following the completion of the sale, the chief executive officer now directly owns 15,153,158 shares in the company, valued at $405,650,039.66. This represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
MP Materials Trading Down 1.7 %
Shares of MP Materials stock traded down $0.44 on Friday, hitting $25.81. The stock had a trading volume of 4,608,256 shares, compared to its average volume of 3,102,723. 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 Corp. has a one year low of $10.02 and a one year high of $27.29. 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 stock's 50-day simple moving average is $23.36 and its two-hundred day simple moving average is $19.78.
MP Materials (NYSE:MP - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $50.71 million. As a group, sell-side analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research note on Thursday. Canaccord Genuity Group lifted their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Finally, DA Davidson lifted their price target on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.61.
Get Our Latest Report on MP
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. JT Stratford LLC grew its holdings in shares of MP Materials by 0.7% in the fourth quarter. JT Stratford LLC now owns 63,685 shares of the company's stock worth $993,000 after purchasing an additional 424 shares during the last quarter. Captrust Financial Advisors boosted its holdings in MP Materials by 5.0% in the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company's stock valued at $207,000 after acquiring an additional 557 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in 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 acquiring an additional 662 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in 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. Finally, SWS Partners boosted its holdings in MP Materials by 0.4% in the fourth quarter. SWS Partners now owns 162,503 shares of the company's stock valued at $2,535,000 after acquiring an additional 707 shares in the last quarter. Institutional investors own 52.55% of the company's stock.
About MP Materials
(
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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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