James H. Litinsky Sells 18,519 Shares of MP Materials Corp. (NYSE:MP) Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 18,519 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $27.00, for a total transaction of $500,013.00. Following the sale, the chief executive officer now owns 13,842,256 shares of the company’s stock, valued at approximately $373,740,912. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MP Materials Stock Performance

Shares of NYSE MP traded up $0.15 during midday trading on Thursday, hitting $26.21. 2,147,223 shares of the company’s stock were exchanged, compared to its average volume of 3,097,170. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $27.29. The firm has a market cap of $4.28 billion, a P/E ratio of -44.42 and a beta of 2.32. The stock’s 50 day moving average price is $23.86 and its 200-day moving average price is $20.05. 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 announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. Equities research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets upped their target price on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a report on Thursday, March 20th. Finally, DA Davidson boosted their price objective on MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.61.

Hedge Funds Weigh In On MP Materials

Large investors have recently bought and sold shares of the stock. Aegis Wealth Management LLC acquired a new position in shares of MP Materials during the fourth quarter valued at approximately $156,000. Pullen Investment Management LLC increased its position in shares of MP Materials by 32.4% during the 4th quarter. Pullen Investment Management LLC now owns 31,026 shares of the company’s stock valued at $484,000 after purchasing an additional 7,590 shares during the period. JT Stratford LLC raised its stake in shares of MP Materials by 0.7% in the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company’s stock worth $993,000 after buying an additional 424 shares in the last quarter. Delta Investment Management LLC lifted its holdings in shares of MP Materials by 3.6% in the fourth quarter. Delta Investment Management LLC now owns 22,025 shares of the company’s stock valued at $344,000 after buying an additional 767 shares during the period. Finally, Two Sigma Advisers LP bought a new position in MP Materials during the fourth quarter valued at about $5,524,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

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.