MP Materials (NYSE:MP) CEO Sells $3,229,000.00 in Stock

MP Materials Corp. (NYSE:MP) CEO James Litinsky sold 50,000 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $64.58, for a total transaction of $3,229,000.00. Following the sale, the chief executive officer owned 11,805,965 shares in the company, valued at approximately $762,429,219.70. This represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

MP Materials Stock Down 0.2%

MP stock opened at $64.57 on Monday. The firm has a market cap of $11.50 billion, a PE ratio of -153.75 and a beta of 1.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18. The firm’s fifty day moving average is $59.36 and its 200 day moving average is $59.49. MP Materials Corp. has a one year low of $19.60 and a one year high of $100.25.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MP shares. Wall Street Zen upgraded shares of MP Materials from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. William Blair reiterated an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Barclays began coverage on shares of MP Materials in a research report on Thursday, May 21st. They issued an “overweight” rating and a $69.00 target price on the stock. Finally, TD Securities upgraded shares of MP Materials to a “strong-buy” rating in a research report on Monday, February 9th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $80.08.

Institutional Trading of MP Materials

Hedge funds and other institutional investors have recently modified their holdings of the business. Alpine Woods Capital Investors LLC raised its holdings in MP Materials by 138.7% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 22,557 shares of the company’s stock valued at $1,089,000 after buying an additional 13,109 shares during the period. BankChampaign National Association purchased a new position in MP Materials during the first quarter worth about $477,000. Alexander Labrunerie & CO. Inc. acquired a new stake in shares of MP Materials during the first quarter valued at about $1,034,000. South Dakota Investment Council increased its position in shares of MP Materials by 516.1% during the first quarter. South Dakota Investment Council now owns 51,809 shares of the company’s stock valued at $2,500,000 after acquiring an additional 43,400 shares during the last quarter. Finally, Amundi raised its stake in shares of MP Materials by 260.2% in the 1st quarter. Amundi now owns 385,001 shares of the company’s stock valued at $18,580,000 after acquiring an additional 278,126 shares during the period. 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.