MP Materials (NYSE:MP) Posts Earnings Results, Misses Estimates By $0.05 EPS

MP Materials (NYSE:MP) announced 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%.

MP Materials Stock Up 1.1 %

MP traded up $0.26 during trading on Thursday, hitting $23.25. The stock had a trading volume of 1,917,136 shares, compared to its average volume of 3,277,531. The stock has a 50 day simple moving average of $20.28 and a two-hundred day simple moving average of $17.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. MP Materials has a twelve month low of $10.02 and a twelve month high of $26.00. The company has a market capitalization of $3.79 billion, a PE ratio of -43.05 and a beta of 2.34.

Insider Transactions at MP Materials

In other news, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the sale, the chief executive officer now owns 18,043,076 shares in the company, valued at approximately $364,830,996.72. The trade was a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Corbett sold 35,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 260,021 shares of the company’s stock, valued at $5,590,451.50. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 955,890 shares of company stock valued at $20,944,628. Corporate insiders own 12.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on MP shares. BMO Capital Markets raised their target price on shares of 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 lifted their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.45.

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.