MP Materials (NYSE:MP) CEO James Litinsky Sells 115,349 Shares

MP Materials Corp. (NYSE:MP) CEO James Litinsky sold 115,349 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $65.37, for a total transaction of $7,540,364.13. Following the sale, the chief executive officer owned 12,090,616 shares in the company, valued at $790,363,567.92. This represents a 0.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

MP Materials Stock Performance

NYSE MP opened at $64.57 on Friday. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of -153.75 and a beta of 1.90. The firm’s 50 day simple moving average is $59.36 and its 200 day simple moving average is $59.52. MP Materials Corp. has a 1 year low of $19.60 and a 1 year high of $100.25.

MP Materials (NYSE:MP) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) 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 analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) EPS. As a group, research analysts expect that MP Materials Corp. will post -0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. TD Securities raised MP Materials to a “strong-buy” rating in a research note on Monday, February 9th. Wedbush boosted their target price on MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. William Blair reissued an “outperform” rating on shares of MP Materials in a research note on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $80.08.

Hedge Funds Weigh In On MP Materials

Several large investors have recently bought and sold shares of MP. Costello Asset Management INC boosted its stake in MP Materials by 15.0% in the fourth quarter. Costello Asset Management INC now owns 1,300 shares of the company’s stock valued at $66,000 after acquiring an additional 170 shares during the last quarter. Composition Wealth LLC boosted its stake in MP Materials by 0.9% in the fourth quarter. Composition Wealth LLC now owns 18,334 shares of the company’s stock valued at $926,000 after acquiring an additional 172 shares during the last quarter. IMG Wealth Management Inc. boosted its stake in MP Materials by 4.7% in the third quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock valued at $298,000 after acquiring an additional 200 shares during the last quarter. ARS Investment Partners LLC boosted its stake in MP Materials by 1.0% in the fourth quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock valued at $1,009,000 after acquiring an additional 200 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its stake in MP Materials by 1.0% in the second quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock valued at $713,000 after acquiring an additional 204 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

MP Materials Company Profile

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.