MP Materials (NYSE:MP) CEO James Litinsky Sells 115,349 Shares

by · The Cerbat Gem

MP Materials Corp. (NYSE:MP – Get Free Report) CEO James Litinsky sold 115,349 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $65.37, for a total value of $7,540,364.13. Following the sale, the chief executive officer directly owned 12,090,616 shares of the company’s stock, valued at approximately $790,363,567.92. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MP Materials Stock Performance

MP traded down $2.26 during trading hours on Friday, hitting $64.57. The stock had a trading volume of 5,062,831 shares, compared to its average volume of 6,944,660. The company’s fifty day simple moving average is $59.36 and its 200 day simple moving average is $59.52. MP Materials Corp. has a 1 year low of $19.60 and a 1 year high of $100.25. The stock has a market cap of $11.50 billion, a PE ratio of -153.75 and a beta of 1.90. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The company had revenue of $90.65 million during the quarter, compared to analyst estimates of $74.82 million. During the same quarter last year, the firm posted ($0.12) EPS. The firm’s revenue for the quarter was up 49.1% on a year-over-year basis. Equities analysts anticipate that MP Materials Corp. will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on MP. Morgan Stanley lifted their price objective on MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. DA Davidson reissued a “buy” rating and issued a $82.00 price objective on shares of MP Materials in a report on Wednesday, May 20th. William Blair reissued an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. Wedbush lifted their price objective on MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of MP Materials in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, MP Materials has an average rating of “Buy” and an average target price of $80.08.

Get Our Latest Analysis on MP Materials

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MP. Costello Asset Management INC raised its stake in MP Materials by 15.0% during the 4th quarter. Costello Asset Management INC now owns 1,300 shares of the company’s stock valued at $66,000 after purchasing an additional 170 shares during the period. Composition Wealth LLC raised its stake in MP Materials by 0.9% during the 4th quarter. Composition Wealth LLC now owns 18,334 shares of the company’s stock valued at $926,000 after purchasing an additional 172 shares during the period. IMG Wealth Management Inc. raised its stake in MP Materials by 4.7% during the 3rd quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company’s stock valued at $298,000 after purchasing an additional 200 shares during the period. ARS Investment Partners LLC raised its stake in MP Materials by 1.0% during the 4th quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock valued at $1,009,000 after purchasing an additional 200 shares during the period. Finally, Cresset Asset Management LLC raised its stake in MP Materials by 1.0% during the 2nd quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock valued at $713,000 after purchasing an additional 204 shares during the period. Institutional investors own 52.55% of the company’s stock.

About MP Materials

(Get Free Report)

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.

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