MP Materials (NYSE:MP) Stock Price Down 1.1% – Should You Sell?

MP Materials Corp. (NYSE:MPGet Free Report) shares traded down 1.1% on Monday . The stock traded as low as $59.37 and last traded at $60.2350. 4,105,682 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 6,900,887 shares. The stock had previously closed at $60.88.

MP Materials News Summary

Here are the key news stories impacting MP Materials this week:

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. DA Davidson reissued a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a report on Friday, June 5th. Canaccord Genuity Group set a $82.00 price target on MP Materials in a research report on Friday, May 8th. Barclays assumed coverage on MP Materials in a research report on Thursday, May 21st. They issued an “overweight” rating and a $69.00 target price on the stock. Finally, Needham & Company LLC initiated coverage on MP Materials in a report on Monday, June 1st. They issued a “buy” rating and a $81.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $80.14.

Check Out Our Latest Analysis on MP

MP Materials Trading Down 4.5%

The business has a fifty day moving average of $62.54 and a 200-day moving average of $59.67. The company has a market capitalization of $10.01 billion, a P/E ratio of -133.93 and a beta of 1.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18.

MP Materials (NYSE:MPGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $90.65 million for the quarter, compared to analysts’ expectations of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The firm’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) earnings per share. Analysts anticipate that MP Materials Corp. will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO James H. Litinsky sold 259,179 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $64.03, for a total transaction of $16,595,231.37. Following the completion of the transaction, the chief executive officer owned 12,505,965 shares of the company’s stock, valued at approximately $800,756,938.95. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Corbett sold 20,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the transaction, the chief financial officer directly owned 109,017 shares of the company’s stock, valued at $8,176,275. The trade was a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,205,167 shares of company stock worth $79,371,654 over the last quarter. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of MP Materials

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PVG Asset Management Corp bought a new position in shares of MP Materials during the first quarter valued at about $1,030,000. Parallel Advisors LLC lifted its stake in MP Materials by 5.8% in the first quarter. Parallel Advisors LLC now owns 4,697 shares of the company’s stock worth $227,000 after acquiring an additional 259 shares during the period. NewEdge Advisors LLC lifted its position in shares of MP Materials by 102.5% in the 1st quarter. NewEdge Advisors LLC now owns 16,908 shares of the company’s stock worth $816,000 after purchasing an additional 8,557 shares during the period. Alpine Woods Capital Investors LLC boosted its position in MP Materials by 138.7% during the 1st quarter. Alpine Woods Capital Investors LLC now owns 22,557 shares of the company’s stock valued at $1,089,000 after acquiring an additional 13,109 shares in the last quarter. Finally, BankChampaign National Association bought a new stake in shares of MP Materials during the first quarter valued at approximately $477,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

About MP Materials

(Get Free Report)

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.

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