Ryan Corbett Sells 20,000 Shares of MP Materials (NYSE:MP) Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 20,000 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $57.72, for a total value of $1,154,400.00. Following the sale, the chief financial officer owned 194,812 shares of the company’s stock, valued at $11,244,548.64. This represents a 9.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

MP Materials Stock Down 10.8%

NYSE MP opened at $56.72 on Friday. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $100.25. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47. The stock has a market cap of $10.05 billion, a PE ratio of -79.88 and a beta of 2.26. The stock’s 50 day moving average is $68.79 and its 200 day moving average is $53.73.

MP Materials (NYSE:MP) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The business had revenue of $53.55 million during the quarter, compared to analyst estimates of $49.72 million. During the same period last year, the firm posted ($0.12) EPS. The company’s revenue was down 14.9% on a year-over-year basis. Research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Centaurus Financial Inc. acquired a new position in MP Materials during the 3rd quarter valued at about $191,000. Sunbelt Securities Inc. increased its holdings in MP Materials by 81.7% in the third quarter. Sunbelt Securities Inc. now owns 3,495 shares of the company’s stock valued at $234,000 after buying an additional 1,571 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of MP Materials in the 3rd quarter valued at about $293,000. Danske Bank A S acquired a new position in MP Materials in the 3rd quarter worth about $94,000. Finally, Stance Capital LLC purchased a new position in MP Materials during the third quarter worth approximately $139,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MP. Daiwa Capital Markets started coverage on shares of MP Materials in a report on Monday, September 22nd. They issued an “outperform” rating and a $80.00 price target on the stock. Benchmark reaffirmed a “buy” rating on shares of MP Materials in a report on Friday, August 29th. DA Davidson reiterated a “buy” rating and issued a $82.00 target price on shares of MP Materials in a research report on Thursday. Jefferies Financial Group upgraded MP Materials from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Friday, August 1st. Finally, Morgan Stanley set a $69.00 price objective on MP Materials in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.82.

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.