MP Materials (MP) Expected to Announce Quarterly Earnings on Thursday

MP Materials (NYSE:MP) is expected to issue its quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of ($0.09) per share and revenue of $50.71 million for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

MP Materials Stock Down 1.1 %

Shares of MP opened at $23.46 on Wednesday. The firm has a market cap of $3.83 billion, a P/E ratio of -43.44 and a beta of 2.34. MP Materials has a 12-month low of $10.02 and a 12-month high of $26.00. The company’s 50-day moving average price is $20.21 and its 200 day moving average price is $17.76. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. BMO Capital Markets boosted their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Canaccord Genuity Group boosted their price target 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.45.

Insider Transactions at MP Materials

In related news, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James H. Litinsky sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total value of $6,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,043,076 shares of the company’s stock, valued at $364,830,996.72. This trade represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 955,890 shares of company stock valued at $20,944,628. 12.60% of the stock is currently owned by corporate insiders.

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.