MP Materials (MP) Expected to Announce Quarterly Earnings on Thursday

MP Materials (NYSE:MP) is anticipated to issue its quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of ($0.09) per share and revenue of $50.71 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

MP Materials Price Performance

NYSE:MP opened at $23.46 on Wednesday. The company has a 50 day moving average price of $20.21 and a 200-day moving average price of $17.76. MP Materials has a 1-year low of $10.02 and a 1-year high of $26.00. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -43.44 and a beta of 2.34. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets lifted their price target on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, MP Materials has a consensus rating of “Moderate Buy” and a consensus price target of $22.45.

Insiders Place Their Bets

In other news, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the transaction, the chief executive officer now owns 18,043,076 shares of the company’s stock, valued at approximately $364,830,996.72. The trade was a 1.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the transaction, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $5,590,451.50. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 955,890 shares of company stock valued at $20,944,628 in the last 90 days. 12.60% of the stock is owned by insiders.

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.