MP Materials (NYSE:MP) Sees Strong Trading Volume - Here's What Happened

MP Materials Corp. (NYSE:MP - Get Free Report) saw strong trading volume on Tuesday . 2,956,528 shares changed hands during mid-day trading, a decline of 9% from the previous session's volume of 3,255,647 shares.The stock last traded at $27.33 and had previously closed at $27.59.

Wall Street Analysts Forecast Growth

MP has been the topic of several analyst reports. BMO Capital Markets boosted their price target on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday, March 20th. DA Davidson increased their price target on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research 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. Based on data from MarketBeat, MP Materials currently has a consensus rating of "Moderate Buy" and an average price target of $23.61.

MP Materials Price Performance

The stock has a market cap of $4.29 billion, a P/E ratio of -44.47 and a beta of 2.24. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. The business's 50-day simple moving average is $24.67 and its two-hundred day simple moving average is $21.22.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share 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 analysts' expectations of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. Sell-side analysts expect that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Buying and Selling

In other MP Materials news, CFO Ryan Corbett sold 15,000 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,812 shares of the company's stock, valued at $5,799,924. This trade represents a 6.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James H. Litinsky sold 199,180 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the completion of the transaction, the chief executive officer now directly owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,330,015 shares of company stock valued at $34,559,781. Corporate insiders own 12.60% of the company's stock.

Institutional Trading of MP Materials

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