MP Materials Corp. (NYSE:MP) CFO Sells 15,000 Shares

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 15,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the sale, the chief financial officer now owns 214,812 shares in the company, valued at $5,799,924. The trade was a 6.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $1,530,600.00.

MP Materials Price Performance

MP opened at $26.86 on Wednesday. The company has a fifty day moving average price of $22.96 and a two-hundred day moving average price of $19.50. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The firm has a market capitalization of $4.39 billion, a PE ratio of -45.53 and a beta of 2.32. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $27.05.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) 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 company had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. As a group, analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current year.

Institutional Trading of MP Materials

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in MP Materials by 44.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company’s stock valued at $101,986,000 after acquiring an additional 2,005,505 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of MP Materials during the fourth quarter worth about $14,886,000. Raymond James Financial Inc. bought a new position in shares of MP Materials during the 4th quarter valued at about $6,284,000. HITE Hedge Asset Management LLC acquired a new position in shares of MP Materials in the 4th quarter valued at approximately $6,019,000. Finally, Two Sigma Advisers LP acquired a new stake in MP Materials during the 4th quarter worth approximately $5,524,000. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MP has been the subject of a number of research analyst reports. BMO Capital Markets boosted their target price 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 objective on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.45.

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.