James H. Litinsky Sells 489,918 Shares of MP Materials Corp. (NYSE:MP) Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 489,918 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $26.77, for a total transaction of $13,115,104.86. Following the completion of the transaction, the chief executive officer now directly owns 15,153,158 shares of the company’s stock, valued at $405,650,039.66. This represents a 3.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

MP Materials Stock Down 0.1 %

Shares of NYSE MP opened at $26.80 on Thursday. The firm’s 50-day moving average price is $23.11 and its 200-day moving average price is $19.56. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of -45.42 and a beta of 2.32. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $27.41.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The business had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. On average, equities research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Institutional Trading of MP Materials

Several hedge funds have recently made changes to their positions in MP. Quadrant Capital Group LLC raised its position in MP Materials by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $38,000 after purchasing an additional 701 shares during the period. SBI Securities Co. Ltd. purchased a new stake in MP Materials in the 4th quarter worth about $40,000. Geneos Wealth Management Inc. raised its position in MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after purchasing an additional 1,849 shares during the period. Nisa Investment Advisors LLC raised its position in MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after purchasing an additional 2,200 shares during the period. Finally, GAMMA Investing LLC raised its position in MP Materials by 69.3% in the 4th quarter. GAMMA Investing LLC now owns 3,775 shares of the company’s stock worth $59,000 after purchasing an additional 1,545 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MP has been the subject of several recent analyst reports. BMO Capital Markets upped their target price 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 increased their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, DA Davidson increased their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, MP Materials currently has a consensus rating of “Moderate Buy” and an average target price of $22.83.

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.