MP Materials (NYSE:MP) Issues Quarterly Earnings Results

MP Materials (NYSE:MP - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05), Zacks reports. 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 for the quarter, compared to the consensus estimate of $50.71 million.

MP Materials Stock Up 0.1 %

MP Materials stock traded up $0.03 during midday trading 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. The company has a fifty day moving average price of $20.56 and a two-hundred day moving average price of $18.13. MP Materials has a 12 month low of $10.02 and a 12 month high of $26.00. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $3.97 billion, a P/E ratio of -41.23 and a beta of 2.34.

Insiders Place Their Bets

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the transaction, the chief executive officer now owns 18,043,076 shares in the company, valued at approximately $364,830,996.72. This represents a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 35,000 shares of MP Materials stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the transaction, the chief financial officer now owns 260,021 shares of the company's stock, 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 quarter, insiders have sold 955,890 shares of company stock worth $20,944,628. Corporate insiders own 12.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group lifted their target price 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. BMO Capital Markets lifted their price objective on MP Materials from $19.50 to $22.00 and gave the stock a "market perform" rating in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, MP Materials presently has a consensus rating of "Moderate Buy" and an average price target of $22.45.

MP Materials Company Profile

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.