MP Materials Corp. (NYSE:MP) CFO Ryan Corbett Sells 15,000 Shares

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the completion of the transaction, the chief financial officer now owns 214,812 shares in the company, valued at $5,799,924. This trade represents a 6.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, March 14th, Ryan Corbett sold 60,000 shares of MP Materials stock. The shares were sold at an average price of $25.51, for a total value of $1,530,600.00.

MP Materials Stock Up 0.6 %

MP opened at $26.86 on Wednesday. The company has a market capitalization of $4.39 billion, a P/E 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. The firm’s fifty day moving average price is $22.96 and its two-hundred day moving average price is $19.50. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $27.05.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share 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 analyst estimates 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, analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MP. Canaccord Genuity Group raised their target price on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. BMO Capital Markets raised their price objective on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, MP Materials currently has an average rating of “Moderate Buy” and a consensus target price of $22.45.

Institutional Investors Weigh In On MP Materials

A number of institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of MP Materials by 35.7% during the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after buying an additional 159,200 shares during the period. KBC Group NV lifted its holdings in shares of MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after acquiring an additional 1,246 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of MP Materials by 7.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 70,167 shares of the company’s stock valued at $1,238,000 after purchasing an additional 5,123 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of MP Materials by 197.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock worth $1,696,000 after purchasing an additional 63,751 shares during the last quarter. Finally, Quest Partners LLC increased its position in shares of MP Materials by 806.0% during the 3rd quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock worth $758,000 after purchasing an additional 38,204 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

MP Materials Company Profile

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.