MP Materials Corp. (NYSE:MP) CFO Ryan Corbett Sells 60,000 Shares of Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 60,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the sale, the chief financial officer now owns 230,100 shares of the company’s stock, valued at approximately $5,869,851. This represents a 20.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, March 17th, Ryan Corbett sold 15,000 shares of MP Materials stock. The shares were sold at an average price of $27.00, for a total transaction of $405,000.00.

MP Materials Stock Up 0.6 %

MP Materials stock opened at $26.86 on Wednesday. The stock has a market cap of $4.39 billion, a PE ratio of -45.53 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The stock has a fifty day moving average of $22.96 and a 200 day moving average of $19.50. MP Materials Corp. has a one year low of $10.02 and a one year high of $27.05.

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

Wall Street Analyst Weigh In

MP has been the topic of several analyst reports. Canaccord Genuity Group upped their price objective on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets increased 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. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.45.

Institutional Trading of MP Materials

Several hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of MP Materials by 44.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company’s stock worth $101,986,000 after buying an additional 2,005,505 shares during the period. BNP Paribas Financial Markets bought a new stake in MP Materials during the 4th quarter worth approximately $14,886,000. Raymond James Financial Inc. purchased a new position in MP Materials during the fourth quarter valued at approximately $6,284,000. HITE Hedge Asset Management LLC bought a new position in shares of MP Materials in the fourth quarter worth approximately $6,019,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of MP Materials in the fourth quarter worth $5,524,000. 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.