MP Materials Corp. (NYSE:MP) CFO Sells $1,530,600.00 in Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 60,000 shares of MP Materials stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the sale, the chief financial officer now owns 230,100 shares in the company, valued at approximately $5,869,851. This represents a 20.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ryan Corbett also recently made the following trade(s):

• On Monday, March 17th, Ryan Corbett sold 15,000 shares of MP Materials stock. The stock was sold at an average price of $27.00, for a total value of $405,000.00.

MP Materials Trading Up 0.6 %

Shares of MP Materials stock traded up $0.17 during trading hours on Tuesday, hitting $26.86. The company’s stock had a trading volume of 4,308,476 shares, compared to its average volume of 3,108,582. MP Materials Corp. has a 12 month low of $10.02 and a 12 month high of $27.06. The stock has a 50 day moving average of $22.83 and a 200 day moving average of $19.41. The company has a market capitalization of $4.39 billion, a PE ratio of -45.53 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

MP Materials (NYSE:MP) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. Analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Aegis Wealth Management LLC bought a new position in shares of MP Materials during the fourth quarter worth about $156,000. Pullen Investment Management LLC grew its holdings in shares of MP Materials by 32.4% during the fourth quarter. Pullen Investment Management LLC now owns 31,026 shares of the company’s stock worth $484,000 after buying an additional 7,590 shares in the last quarter. JT Stratford LLC boosted its position in MP Materials by 0.7% during the fourth quarter. JT Stratford LLC now owns 63,685 shares of the company’s stock valued at $993,000 after purchasing an additional 424 shares during the last quarter. Delta Investment Management LLC boosted its position in MP Materials by 3.6% during the fourth quarter. Delta Investment Management LLC now owns 22,025 shares of the company’s stock valued at $344,000 after purchasing an additional 767 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new position in MP Materials during the fourth quarter valued at approximately $5,524,000. 52.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MP shares. BMO Capital Markets lifted their price target on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Canaccord Genuity Group lifted their price target on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.45.

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.