MP Materials Corp. (NYSE:MP) CFO Sells $405,000.00 in Stock

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. Following the transaction, the chief financial officer now directly owns 214,812 shares of the company’s stock, valued at approximately $5,799,924. This represents a 6.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, March 14th, Ryan Corbett sold 60,000 shares of MP Materials stock. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00.

MP Materials Price Performance

Shares of MP opened at $26.22 on Friday. The company has a 50 day moving average price of $23.24 and a 200-day moving average price of $19.60. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $27.29. The stock has a market capitalization of $4.29 billion, a PE ratio of -44.44 and a beta of 2.32. 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 (NYSE:MP) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million during the quarter, compared to analysts’ expectations of $50.71 million. Equities analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MP has been the subject of several research reports. DA Davidson boosted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday. Canaccord Genuity Group boosted their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, 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 research report on Thursday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.61.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of MP Materials by 44.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company’s stock worth $101,986,000 after acquiring an additional 2,005,505 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of MP Materials by 3.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company’s stock worth $37,945,000 after acquiring an additional 73,297 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MP Materials by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company’s stock worth $34,433,000 after acquiring an additional 176,121 shares in the last quarter. Invesco Ltd. raised its stake in shares of MP Materials by 0.4% during the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company’s stock worth $33,050,000 after acquiring an additional 7,453 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its stake in shares of MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock worth $21,988,000 after acquiring an additional 306,933 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

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.