MP Materials Corp. (NYSE:MP) CFO Ryan Corbett Sells 15,000 Shares

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $27.00, for a total transaction of $405,000.00. Following the transaction, the chief financial officer now owns 214,812 shares in the company, valued at $5,799,924. The trade was a 6.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Ryan Corbett also recently made the following trade(s):

• On Friday, March 14th, Ryan Corbett sold 60,000 shares of MP Materials stock. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00.

MP Materials Price Performance

Shares of NYSE MP opened at $26.22 on Friday. The firm has a 50-day simple moving average of $23.24 and a 200-day simple moving average of $19.60. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -44.44 and a beta of 2.32. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $27.29.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, February 20th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. On average, equities analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MP Materials

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its position in MP Materials by 35.7% during the third quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock worth $10,676,000 after purchasing an additional 159,200 shares during the last quarter. KBC Group NV increased its position in 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 purchasing an additional 1,246 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in MP Materials by 7.9% during the third quarter. OneDigital Investment Advisors LLC now owns 70,167 shares of the company’s stock worth $1,238,000 after purchasing an additional 5,123 shares during the last quarter. Thrivent Financial for Lutherans increased its position in MP Materials by 197.0% during the third quarter. Thrivent Financial for Lutherans now owns 96,106 shares of the company’s stock worth $1,696,000 after purchasing an additional 63,751 shares during the last quarter. Finally, Quest Partners LLC increased its position in MP Materials by 806.0% during the third quarter. Quest Partners LLC now owns 42,944 shares of the company’s stock worth $758,000 after purchasing an additional 38,204 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Canaccord Genuity Group upped their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets upped their price objective on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a report on Thursday. Finally, DA Davidson upped their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.61.

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.