MP Materials (NYSE:MP) CEO Sells $12,802,446.38 in Stock

MP Materials Corp. (NYSE:MP) CEO James Litinsky sold 185,167 shares of MP Materials stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $69.14, for a total value of $12,802,446.38. Following the completion of the transaction, the chief executive officer owned 11,620,798 shares of the company’s stock, valued at approximately $803,461,973.72. The trade was a 1.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

MP Materials Stock Performance

Shares of MP traded down $6.26 during mid-day trading on Friday, hitting $59.20. The stock had a trading volume of 8,013,904 shares, compared to its average volume of 6,734,868. The company has a market cap of $10.54 billion, a PE ratio of -140.96 and a beta of 1.86. The company’s fifty day simple moving average is $60.78 and its two-hundred day simple moving average is $59.75. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47. MP Materials Corp. has a fifty-two week low of $23.26 and a fifty-two week high of $100.25.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. The company had revenue of $90.65 million during the quarter, compared to analyst estimates of $74.82 million. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The business’s revenue was up 49.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.12) EPS. On average, equities analysts expect that MP Materials Corp. will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Needham & Company LLC assumed coverage on MP Materials in a report on Monday. They issued a “buy” rating and a $81.00 price target on the stock. Canaccord Genuity Group set a $82.00 price target on MP Materials in a report on Friday, May 8th. Morgan Stanley raised their price target on MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. TD Securities raised MP Materials to a “strong-buy” rating in a report on Monday, February 9th. Finally, Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $80.14.

Institutional Investors Weigh In On MP Materials

A number of institutional investors and hedge funds have recently bought and sold shares of MP. EMC Capital Management acquired a new stake in MP Materials in the 4th quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in MP Materials in the 4th quarter valued at about $26,000. REAP Financial Group LLC acquired a new stake in MP Materials in the 4th quarter valued at about $26,000. Financial Consulate Inc. raised its position in shares of MP Materials by 555.3% during the fourth quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of MP Materials during the fourth quarter worth $28,000. 52.55% of the stock is owned by institutional investors and hedge funds.

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.