James Litinsky Sells 234,651 Shares of MP Materials (NYSE:MP) Stock

MP Materials Corp. (NYSE:MP) CEO James Litinsky sold 234,651 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $65.87, for a total value of $15,456,461.37. Following the transaction, the chief executive officer directly owned 11,855,965 shares in the company, valued at approximately $780,952,414.55. This trade represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MP Materials Price Performance

Shares of NYSE MP opened at $64.57 on Friday. The business’s 50 day moving average price is $59.36 and its two-hundred day moving average price is $59.52. The company has a market cap of $11.50 billion, a PE ratio of -153.75 and a beta of 1.90. 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 twelve month low of $19.60 and a twelve month high of $100.25.

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

Institutional Investors Weigh In On MP Materials

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in MP Materials by 26.5% during the first quarter. Royal Bank of Canada now owns 234,185 shares of the company’s stock valued at $5,716,000 after purchasing an additional 49,052 shares in the last quarter. AQR Capital Management LLC acquired a new position in MP Materials during the first quarter valued at approximately $215,000. Integrated Wealth Concepts LLC acquired a new position in MP Materials during the first quarter valued at approximately $219,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in MP Materials by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company’s stock valued at $265,000 after purchasing an additional 479 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in MP Materials by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 193,943 shares of the company’s stock valued at $4,734,000 after purchasing an additional 51,348 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MP. Canaccord Genuity Group set a $82.00 price objective on MP Materials in a report on Friday, May 8th. William Blair restated an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. Morgan Stanley boosted their price objective on MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of MP Materials in a report on Tuesday, May 12th. Finally, Wedbush boosted their price objective on MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $80.08.

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.