MP Materials (MP) Projected to Post Quarterly Earnings on Thursday

MP Materials (NYSE:MP - Get Free Report) is expected to issue its Q4 2024 quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of ($0.09) per share and revenue of $50.71 million for the quarter. Parties interested in participating in the company's conference call can do so using this link.

MP Materials (NYSE:MP - Get Free Report) last released 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). MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. The company had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. On average, analysts expect MP Materials to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

MP Materials Trading Up 4.6 %

Shares of NYSE MP traded up $1.07 during trading on Friday, reaching $24.25. The company had a trading volume of 4,659,307 shares, compared to its average volume of 3,318,429. MP Materials has a 12 month low of $10.02 and a 12 month high of $26.00. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The company's fifty day moving average price is $20.45 and its 200-day moving average price is $17.93. The stock has a market cap of $3.96 billion, a P/E ratio of -44.90 and a beta of 2.34.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Canaccord Genuity Group upped 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. BMO Capital Markets upped their target price on MP Materials from $19.50 to $22.00 and gave the company a "market perform" rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, MP Materials currently has a consensus rating of "Moderate Buy" and an average price target of $22.45.

Insider Buying and Selling

In other news, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ryan Corbett sold 35,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the sale, the chief financial officer now directly owns 260,021 shares of the company's stock, valued at approximately $5,590,451.50. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 955,890 shares of company stock valued at $20,944,628. 12.60% of the stock is owned by company insiders.

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.