James H. Litinsky Sells 199,180 Shares of MP Materials Corp. (NYSE:MP) Stock

MP Materials Corp. (NYSE:MP - Get Free Report) CEO James H. Litinsky sold 199,180 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $27.08, for a total value of $5,393,794.40. Following the sale, the chief executive officer now owns 13,643,076 shares of the company's stock, valued at approximately $369,454,498.08. This represents a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

MP Materials Price Performance

MP traded down $3.66 during trading on Monday, hitting $22.69. The company's stock had a trading volume of 7,395,924 shares, compared to its average volume of 4,458,238. MP Materials Corp. has a twelve month low of $10.02 and a twelve month high of $29.72. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -38.46 and a beta of 2.24. 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 business's fifty day simple moving average is $24.67 and its 200 day simple moving average is $21.25.

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

Hedge Funds Weigh In On MP Materials

Several institutional investors and hedge funds have recently bought and sold shares of the company. NBC Securities Inc. grew its holdings in shares of MP Materials by 119,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,199 shares during the period. Quadrant Capital Group LLC raised its position in MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after purchasing an additional 701 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of MP Materials during the fourth quarter worth $40,000. Geneos Wealth Management Inc. raised its holdings in shares of MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock valued at $43,000 after buying an additional 1,849 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock worth $51,000 after acquiring an additional 2,200 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MP. BMO Capital Markets boosted 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, March 20th. DA Davidson increased their price target on shares of MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, MP Materials has an average rating of "Moderate Buy" and a consensus price target of $23.61.

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.