MP Materials Corp. (NYSE:MP) Director Sells $37,930,087.44 in Stock

MP Materials Corp. (NYSE:MP) Director Financial Lp Qvt sold 1,095,612 shares of the firm’s stock in a transaction on Thursday, September 16th. The stock was sold at an average price of $34.62, for a total value of $37,930,087.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of MP stock opened at $31.64 on Tuesday. The company has a quick ratio of 13.41, a current ratio of 13.80 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $34.74 and a two-hundred day moving average price of $33.86. MP Materials Corp. has a 12-month low of $10.80 and a 12-month high of $51.77. The firm has a market cap of $5.62 billion, a P/E ratio of 143.82 and a beta of 4.93.

MP Materials (NYSE:MP) last released its quarterly earnings data on Thursday, August 5th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The company had revenue of $73.12 million during the quarter, compared to analysts’ expectations of $57.60 million. As a group, research analysts expect that MP Materials Corp. will post 0.6 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MP. Brookfield Asset Management Inc. purchased a new position in MP Materials during the 2nd quarter valued at about $957,000. Invesco Ltd. increased its holdings in MP Materials by 34.2% during the 2nd quarter. Invesco Ltd. now owns 2,313,669 shares of the company’s stock valued at $85,283,000 after purchasing an additional 589,238 shares during the period. Metropolitan Life Insurance Co NY purchased a new position in MP Materials during the 2nd quarter valued at about $762,000. Man Group plc increased its holdings in MP Materials by 59.6% during the 2nd quarter. Man Group plc now owns 16,880 shares of the company’s stock valued at $622,000 after purchasing an additional 6,305 shares during the period. Finally, MetLife Investment Management LLC purchased a new position in MP Materials during the 2nd quarter valued at about $995,000. Hedge funds and other institutional investors own 68.09% of the company’s stock.

MP has been the subject of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on MP Materials in a report on Wednesday, June 16th. They issued an “overweight” rating and a $41.00 price target for the company. Morgan Stanley lifted their price objective on MP Materials from $37.50 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, August 17th. Zacks Investment Research raised MP Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, August 10th. DA Davidson began coverage on MP Materials in a research note on Friday, July 23rd. They set a “buy” rating and a $45.00 price objective for the company. Finally, Robert W. Baird began coverage on MP Materials in a research note on Tuesday, June 29th. They set an “outperform” rating and a $45.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $39.89.

MP Materials Company Profile

MP Materials Corp. engages in the ownership and operation of integrated rare earth mining and processing facilities. It owns and operates the Mountain Pass facility located in the Western Hemisphere. The company 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.

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