MP Materials (NYSE:MP) CFO Ryan Corbett Sells 20,000 Shares of Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $57.72, for a total value of $1,154,400.00. Following the sale, the chief financial officer directly owned 194,812 shares in the company, valued at $11,244,548.64. The trade was a 9.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MP Materials Trading Up 8.8%

Shares of MP Materials stock traded up $5.17 on Wednesday, reaching $63.68. The company had a trading volume of 20,406,979 shares, compared to its average volume of 13,421,621. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. MP Materials Corp. has a 1 year low of $15.56 and a 1 year high of $100.25. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of -89.69 and a beta of 2.26. The firm’s 50-day moving average price is $68.92 and its two-hundred day moving average price is $53.71.

MP Materials (NYSE:MP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The company had revenue of $53.55 million for the quarter, compared to the consensus estimate of $49.72 million. During the same period in the prior year, the firm posted ($0.12) EPS. The firm’s revenue was down 14.9% compared to the same quarter last year. As a group, research analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MP. Bank of America increased their price target on MP Materials from $78.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Daiwa America upgraded MP Materials to a “strong-buy” rating in a research note on Monday, September 22nd. Benchmark reiterated a “buy” rating on shares of MP Materials in a research report on Friday, August 29th. JPMorgan Chase & Co. raised shares of MP Materials from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $75.00 to $74.00 in a research note on Friday, November 14th. Finally, Daiwa Capital Markets began coverage on shares of MP Materials in a research note on Monday, September 22nd. They issued an “outperform” rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.82.

Institutional Trading of MP Materials

Several institutional investors and hedge funds have recently made changes to their positions in MP. Wolff Wiese Magana LLC grew its holdings in MP Materials by 28.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 806 shares of the company’s stock valued at $54,000 after buying an additional 177 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in shares of MP Materials by 1.0% in the third quarter. Miracle Mile Advisors LLC now owns 18,162 shares of the company’s stock valued at $1,218,000 after acquiring an additional 188 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of MP Materials by 1.7% during the third quarter. Wedmont Private Capital now owns 11,824 shares of the company’s stock valued at $872,000 after acquiring an additional 195 shares during the last quarter. IMG Wealth Management Inc. increased its position in MP Materials by 4.7% during the 3rd quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock worth $298,000 after purchasing an additional 200 shares in the last quarter. Finally, Rothschild Investment LLC raised its stake in MP Materials by 4.0% in the 3rd quarter. Rothschild Investment LLC now owns 5,252 shares of the company’s stock valued at $352,000 after purchasing an additional 202 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.

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.