MP Materials (NYSE:MP) Releases Earnings Results

MP Materials (NYSE:MP) posted its quarterly earnings results on Thursday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05), Zacks reports. MP Materials had a negative net margin of 32.24% and a negative return on equity of 6.78%. The company had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $50.71 million.

MP Materials Stock Performance

MP Materials stock traded up $1.07 during trading hours on Friday, reaching $24.25. 1,443,280 shares of the company were exchanged, compared to its average volume of 3,221,085. MP Materials has a 12 month low of $10.02 and a 12 month high of $26.00. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average of $20.35 and a 200 day moving average of $17.84. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -44.82 and a beta of 2.34.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MP shares. BMO Capital Markets lifted their price objective on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Canaccord Genuity Group boosted their price target on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

Insider Activity

In other news, CFO Ryan Corbett sold 35,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the sale, the chief financial officer now directly owns 260,021 shares of the company’s stock, valued at approximately $5,590,451.50. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James H. Litinsky sold 386,223 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the transaction, the chief executive officer now directly owns 15,643,076 shares in the company, valued at $375,590,254.76. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 955,890 shares of company stock valued at $20,944,628 over the last 90 days. 12.60% of the stock is currently owned by company insiders.

About MP Materials

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.