MP Materials Corp. (NYSE:MP) CFO Sells $1,530,600.00 in Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $25.51, for a total value of $1,530,600.00. Following the completion of the transaction, the chief financial officer now directly owns 230,100 shares in the company, valued at approximately $5,869,851. This represents a 20.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 17th, Ryan Corbett sold 15,000 shares of MP Materials stock. The shares were sold at an average price of $27.00, for a total transaction of $405,000.00.

MP Materials Price Performance

NYSE:MP opened at $26.86 on Wednesday. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -45.53 and a beta of 2.32. 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 business has a 50 day simple moving average of $22.96 and a 200-day simple moving average of $19.50. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $27.05.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MP. BMO Capital Markets raised their target price on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Canaccord Genuity Group lifted their target price on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MP Materials has an average rating of “Moderate Buy” and an average target price of $22.45.

Hedge Funds Weigh In On MP Materials

Several hedge funds have recently added to or reduced their stakes in the company. Oak Family Advisors LLC purchased a new stake in MP Materials in the fourth quarter worth $530,000. Segall Bryant & Hamill LLC increased its stake in MP Materials by 32.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after buying an additional 306,933 shares during the period. Quest Partners LLC lifted its holdings in MP Materials by 806.0% during the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock valued at $758,000 after buying an additional 38,204 shares in the last quarter. SG Americas Securities LLC boosted its position in MP Materials by 167.3% in the 4th quarter. SG Americas Securities LLC now owns 35,902 shares of the company’s stock valued at $560,000 after buying an additional 22,473 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in MP Materials in the 3rd quarter worth about $2,300,000. 52.55% of the stock is currently owned by institutional investors.

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.