Insider Selling: MP Materials Corp. (NYSE:MP) CEO Sells 161,175 Shares of Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 161,175 shares of MP Materials stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $26.94, for a total value of $4,342,054.50. Following the completion of the sale, the chief executive officer now directly owns 14,352,689 shares in the company, valued at $386,661,441.66. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

MP Materials Stock Performance

Shares of MP stock opened at $26.22 on Friday. The business’s fifty day simple moving average is $23.24 and its 200-day simple moving average is $19.60. The company has a market cap of $4.29 billion, a PE ratio of -44.44 and a beta of 2.32. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $27.29.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. Analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MP Materials

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of MP Materials by 44.3% in the 4th 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. Victory Capital Management Inc. increased its position in shares of MP Materials by 3.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company’s stock valued at $37,945,000 after acquiring an additional 73,297 shares during the period. Dimensional Fund Advisors LP increased its position in shares of MP Materials by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company’s stock valued at $34,433,000 after acquiring an additional 176,121 shares during the period. Invesco Ltd. increased its position in shares of MP Materials by 0.4% in the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company’s stock valued at $33,050,000 after acquiring an additional 7,453 shares during the period. Finally, Segall Bryant & Hamill LLC increased its position in shares of MP Materials by 32.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after acquiring an additional 306,933 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MP shares. BMO Capital Markets boosted their price objective on MP Materials from $22.00 to $29.00 and gave the stock a “market perform” rating in a research note on Thursday. Canaccord Genuity Group upped their target price on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, DA Davidson upped their target price on MP Materials from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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.