MP Materials (NYSE:MP) Stock Price Down 4.5% – Should You Sell?

Shares of MP Materials Corp. (NYSE:MP) traded down 4.5% during trading on Wednesday . The company traded as low as $23.29 and last traded at $23.37. 1,936,961 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 3,191,386 shares. The stock had previously closed at $24.47.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MP shares. JPMorgan Chase & Co. boosted their price objective on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. BMO Capital Markets boosted their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Finally, Canaccord Genuity Group raised their price objective on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, MP Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

MP Materials Price Performance

The stock has a fifty day moving average of $19.54 and a 200-day moving average of $17.01. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $3.82 billion, a P/E ratio of -43.39 and a beta of 2.34.

MP Materials (NYSE:MP) last released its earnings results on Thursday, November 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. The firm had revenue of $62.93 million during the quarter, compared to analyst estimates of $45.30 million. During the same period last year, the business posted $0.02 earnings per share. Equities analysts predict that MP Materials Corp. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.45, for a total value of $5,535,000.00. Following the sale, the chief executive officer now directly owns 18,221,776 shares in the company, valued at approximately $336,191,767.20. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the sale, the chief financial officer now owns 260,021 shares of the company’s stock, valued at approximately $5,590,451.50. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 884,862 shares of company stock valued at $17,484,482. 12.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MP. GAMMA Investing LLC raised its holdings in shares of MP Materials by 136.0% during the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock worth $39,000 after acquiring an additional 1,285 shares during the period. Geneos Wealth Management Inc. increased its holdings in MP Materials by 205.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company’s stock worth $43,000 after purchasing an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after purchasing an additional 2,200 shares during the period. Signaturefd LLC lifted its holdings in shares of MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after purchasing an additional 3,262 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after buying an additional 1,246 shares during the period. Institutional investors own 52.55% of the company’s stock.

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.