Ryan Corbett Sells 15,000 Shares of MP Materials Corp. (NYSE:MP) Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 15,000 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now directly owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. This trade represents a 6.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, March 14th, Ryan Corbett sold 60,000 shares of MP Materials stock. The stock was sold at an average price of $25.51, for a total value of $1,530,600.00.

MP Materials Trading Down 0.1 %

Shares of MP opened at $26.80 on Thursday. MP Materials Corp. has a 1-year low of $10.02 and a 1-year high of $27.41. 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 firm’s 50-day moving average price is $23.11 and its 200-day moving average price is $19.56. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of -45.42 and a beta of 2.32.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share 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 firm had revenue of $60.99 million for the quarter, compared to the consensus estimate of $50.71 million. Sell-side analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Institutional Investors Weigh In On MP Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MP. JT Stratford LLC boosted its holdings in shares of MP Materials by 0.7% during the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company’s stock valued at $993,000 after buying an additional 424 shares in the last quarter. Captrust Financial Advisors boosted its stake in MP Materials by 5.0% during the third quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock worth $207,000 after acquiring an additional 557 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in MP Materials by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company’s stock worth $322,000 after purchasing an additional 662 shares during the period. Quadrant Capital Group LLC grew its holdings in MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $38,000 after purchasing an additional 701 shares during the period. Finally, SWS Partners increased its stake in shares of MP Materials by 0.4% during the fourth quarter. SWS Partners now owns 162,503 shares of the company’s stock valued at $2,535,000 after purchasing an additional 707 shares in the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MP shares. Canaccord Genuity Group raised their target price 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 raised their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Finally, DA Davidson boosted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, MP Materials has an average rating of “Moderate Buy” and a consensus target price of $22.83.

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.