Insider Selling: MP Materials Corp. (NYSE:MP) CFO Sells 15,000 Shares of Stock

MP Materials Corp. (NYSE:MP - Get Free Report) CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the sale, the chief financial officer now directly owns 214,812 shares in the company, valued at approximately $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, March 14th, Ryan Corbett sold 60,000 shares of MP Materials stock. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00.

MP Materials Stock Performance

Shares of NYSE MP traded down $0.44 during midday trading on Friday, hitting $25.81. The company's stock had a trading volume of 4,608,256 shares, compared to its average volume of 3,098,306. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $27.29. The firm's fifty day moving average price is $23.36 and its 200-day moving average price is $19.69. The firm has a market cap of $4.22 billion, a P/E ratio of -43.75 and a beta of 2.32.

MP Materials (NYSE:MP - Get Free Report) last issued its 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 company 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, sell-side analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

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Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of MP Materials by 44.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock valued at $101,986,000 after acquiring an additional 2,005,505 shares during the period. BNP Paribas Financial Markets acquired a new position in MP Materials during the 4th quarter valued at about $14,886,000. Raymond James Financial Inc. bought a new position in MP Materials in the 4th quarter worth about $6,284,000. HITE Hedge Asset Management LLC acquired a new stake in shares of MP Materials in the fourth quarter valued at approximately $6,019,000. Finally, Two Sigma Advisers LP acquired a new position in shares of MP Materials during the fourth quarter worth approximately $5,524,000. 52.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MP has been the subject of several research analyst reports. Canaccord Genuity Group increased their target price on MP Materials from $23.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. BMO Capital Markets increased 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 note on Thursday. Finally, DA Davidson boosted their target price on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.61.

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.