MP Materials Corp. (NYSE:MP) CFO Sells $1,530,600.00 in Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 60,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00. Following the completion of the sale, the chief financial officer now owns 230,100 shares in the company, valued at approximately $5,869,851. This trade represents a 20.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, March 17th, Ryan Corbett sold 15,000 shares of MP Materials stock. The shares were sold at an average price of $27.00, for a total value of $405,000.00.

MP Materials Stock Down 2.2 %

MP Materials stock opened at $26.22 on Friday. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $27.29. The firm has a market capitalization of $4.29 billion, a PE ratio of -44.44 and a beta of 2.32. The company’s 50-day moving average is $23.24 and its 200-day moving average is $19.60. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MP. BMO Capital Markets lifted their price objective on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a report on Thursday. DA Davidson lifted their price target on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group increased their price objective 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. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.61.

Institutional Investors Weigh In On MP Materials

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of MP Materials by 35.7% in the third quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock valued at $10,676,000 after purchasing an additional 159,200 shares during the period. KBC Group NV raised its holdings in MP Materials by 35.7% in the 3rd quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after acquiring an additional 1,246 shares during the period. OneDigital Investment Advisors LLC lifted its position in MP Materials by 7.9% during the third quarter. OneDigital Investment Advisors LLC now owns 70,167 shares of the company’s stock worth $1,238,000 after acquiring an additional 5,123 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of MP Materials by 197.0% in the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock valued at $1,696,000 after purchasing an additional 63,751 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of MP Materials by 806.0% in the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after purchasing an additional 38,204 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.