MP Materials (NYSE:MP) Issues Quarterly Earnings Results

MP Materials (NYSE:MP) issued its quarterly earnings data on Thursday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05), Zacks reports. MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%.

MP Materials Stock Performance

Shares of NYSE MP traded up $0.26 during mid-day trading on Thursday, hitting $23.25. The company had a trading volume of 1,917,136 shares, compared to its average volume of 3,277,531. The firm’s 50 day simple moving average is $20.28 and its two-hundred day simple moving average is $17.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -43.05 and a beta of 2.34. MP Materials has a 12 month low of $10.02 and a 12 month high of $26.00.

Insider Activity

In related news, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the sale, the chief financial officer now owns 260,021 shares in the company, valued at $5,590,451.50. This represents a 11.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James H. Litinsky sold 300,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total value of $6,066,000.00. Following the transaction, the chief executive officer now owns 18,043,076 shares of the company’s stock, valued at approximately $364,830,996.72. This trade represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 955,890 shares of company stock worth $20,944,628. 12.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MP has been the topic of a number of research reports. BMO Capital Markets raised their price objective 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. Canaccord Genuity Group boosted their target price on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.45.

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.