MP Materials Corp. (NYSE:MP) CFO Sells $752,500.00 in Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 35,000 shares of MP Materials stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the transaction, the chief financial officer now owns 260,021 shares of the company’s stock, valued at $5,590,451.50. The trade was a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, November 18th, Ryan Corbett sold 15,195 shares of MP Materials stock. The shares were sold at an average price of $18.30, for a total value of $278,068.50.

MP Materials Stock Performance

Shares of MP opened at $21.07 on Monday. The business has a fifty day moving average of $18.41 and a 200 day moving average of $15.51. MP Materials Corp. has a one year low of $10.02 and a one year high of $21.70. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. The firm has a market capitalization of $3.44 billion, a P/E ratio of -39.02 and a beta of 2.23.

MP Materials announced that its board has initiated a stock buyback plan on Tuesday, September 3rd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to buy up to 13.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Trading of MP Materials

Several hedge funds have recently bought and sold shares of MP. GAMMA Investing LLC grew its holdings in MP Materials by 136.0% during the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after purchasing an additional 1,285 shares during the period. Nisa Investment Advisors LLC grew its holdings in MP Materials by 3,803.8% during the second quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock valued at $52,000 after purchasing an additional 3,956 shares during the period. Signaturefd LLC grew its holdings in MP Materials by 817.5% during the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after purchasing an additional 3,262 shares during the period. Point72 Hong Kong Ltd bought a new stake in MP Materials during the second quarter valued at about $72,000. Finally, KBC Group NV grew its holdings in MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after purchasing an additional 1,246 shares during the period. Institutional investors own 52.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. DA Davidson lifted their target price on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their target price on MP Materials from $13.50 to $12.50 and set a “hold” rating for the company in a report on Tuesday, August 6th. BMO Capital Markets lifted their target price on MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a report on Friday, October 25th. Robert W. Baird lifted their target price on MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. lifted their target price on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, MP Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.

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.