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

MP Materials Corp. (NYSE:MP) CEO James Litinsky sold 115,349 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $65.37, for a total value of $7,540,364.13. Following the completion of the sale, the chief executive officer owned 12,090,616 shares of the company’s stock, valued at $790,363,567.92. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MP Materials Stock Down 3.4%

MP Materials stock opened at $64.57 on Friday. The stock has a market capitalization of $11.50 billion, a PE ratio of -153.75 and a beta of 1.90. MP Materials Corp. has a 12 month low of $19.60 and a 12 month high of $100.25. The business has a 50 day simple moving average of $59.36 and a 200-day simple moving average of $59.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.18 and a quick ratio of 6.58.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $90.65 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share. On average, analysts anticipate that MP Materials Corp. will post -0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on MP shares. William Blair restated an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. DA Davidson restated a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a research report on Wednesday, May 20th. TD Securities upgraded MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of MP Materials in a research note on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $80.08.

Institutional Trading of MP Materials

A number of institutional investors have recently made changes to their positions in the company. Hancock Prospecting Pty Ltd boosted its stake in shares of MP Materials by 7.2% in the third quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company’s stock worth $996,741,000 after acquiring an additional 1,000,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of MP Materials by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 14,479,787 shares of the company’s stock worth $731,519,000 after acquiring an additional 459,213 shares during the last quarter. State Street Corp boosted its stake in shares of MP Materials by 13.2% in the fourth quarter. State Street Corp now owns 6,597,885 shares of the company’s stock worth $333,325,000 after acquiring an additional 769,517 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of MP Materials by 76.3% in the second quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock worth $97,200,000 after acquiring an additional 1,264,243 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of MP Materials by 71.6% in the fourth quarter. Van ECK Associates Corp now owns 2,834,914 shares of the company’s stock worth $143,220,000 after acquiring an additional 1,183,307 shares during the last quarter. 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.