MP Materials (NYSE:MP) CEO James Litinsky Sells 248,411 Shares

MP Materials Corp. (NYSE:MP) CEO James Litinsky sold 248,411 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $63.86, for a total transaction of $15,863,526.46. Following the completion of the sale, the chief executive officer directly owned 13,369,665 shares of the company’s stock, valued at approximately $853,786,806.90. The trade was a 1.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

MP Materials Price Performance

MP stock traded down $6.83 during midday trading on Thursday, reaching $56.72. The stock had a trading volume of 16,469,036 shares, compared to its average volume of 13,354,189. The company has a market cap of $10.05 billion, a price-to-earnings ratio of -79.88 and a beta of 2.26. MP Materials Corp. has a 52-week low of $15.56 and a 52-week high of $100.25. The company’s fifty day simple moving average is $68.79 and its 200 day simple moving average is $53.73. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.05. The company had revenue of $53.55 million during the quarter, compared to analysts’ expectations of $49.72 million. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The firm’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) EPS. As a group, sell-side analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MP Materials

Institutional investors have recently modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in shares of MP Materials during the 2nd quarter worth about $25,000. Sound Income Strategies LLC grew its stake in MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after acquiring an additional 294 shares in the last quarter. AdvisorNet Financial Inc increased its stake in MP Materials by 168.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 806 shares of the company’s stock valued at $27,000 after buying an additional 506 shares during the period. MAI Capital Management raised its holdings in shares of MP Materials by 132.7% during the first quarter. MAI Capital Management now owns 1,403 shares of the company’s stock worth $34,000 after acquiring an additional 800 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in MP Materials by 181.3% in the second quarter. Spire Wealth Management now owns 1,010 shares of the company’s stock worth $34,000 after buying an additional 651 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on MP shares. Daiwa Capital Markets initiated coverage on MP Materials in a report on Monday, September 22nd. They set an “outperform” rating and a $80.00 price target on the stock. Robert W. Baird upped their target price on MP Materials from $52.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. DA Davidson reiterated a “buy” rating and set a $82.00 target price on shares of MP Materials in a research note on Thursday. Jefferies Financial Group raised shares of MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Friday, August 1st. Finally, Cowen reissued a “buy” rating on shares of MP Materials in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $78.82.

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.