MP Materials (NYSE:MP) Issues Earnings Results, Misses Expectations By $0.05 EPS

MP Materials (NYSE:MP - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05), Zacks reports. The firm had revenue of $60.99 million for the quarter, compared to analysts' expectations of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%.

MP Materials Price Performance

Shares of MP traded up $0.03 on Monday, reaching $24.33. The stock had a trading volume of 3,100,153 shares, compared to its average volume of 3,312,266. MP Materials has a twelve month low of $10.02 and a twelve month high of $26.00. The firm has a market capitalization of $3.97 billion, a PE ratio of -41.23 and a beta of 2.34. The firm has a 50-day moving average of $20.56 and a 200 day moving average of $18.13. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

Insider Buying and Selling

In other news, CEO James H. Litinsky sold 300,000 shares of MP Materials stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the completion of the transaction, the chief executive officer now owns 18,043,076 shares of the company's stock, valued at $364,830,996.72. The trade was a 1.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ryan Corbett sold 35,000 shares of the business's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the sale, the chief financial officer now owns 260,021 shares in the company, valued at $5,590,451.50. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 955,890 shares of company stock valued at $20,944,628. 12.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of MP Materials from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. BMO Capital Markets increased their target price on MP Materials from $19.50 to $22.00 and gave the stock a "market perform" rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, MP Materials has an average rating of "Moderate Buy" and a consensus target price of $22.45.

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.