MP Materials (NYSE:MP) Trading Down 2.5% on Insider Selling

by · The Markets Daily

MP Materials Corp. (NYSE:MP – Get Free Report)’s stock price was down 2.5% during trading on Friday after an insider sold shares in the company. The stock traded as low as $53.22 and last traded at $55.28. Approximately 11,041,710 shares traded hands during trading, an increase of 1% from the average daily volume of 10,932,058 shares. The stock had previously closed at $56.68.

Specifically, CEO James H. Litinsky sold 248,411 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $63.86, for a total value of $15,863,526.46. Following the completion of the transaction, the chief executive officer owned 13,369,665 shares of the company’s stock, valued at approximately $853,786,806.90. This represents a 1.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $57.72, for a total value of $1,154,400.00. Following the completion of the transaction, the chief financial officer owned 194,812 shares of the company’s stock, valued at approximately $11,244,548.64. The trade was a 9.31% decrease in their position. The SEC filing for this sale provides additional information.

Analyst Ratings Changes

A number of research firms have issued reports on MP. Morgan Stanley set a $69.00 price objective on MP Materials in a report on Wednesday, October 8th. Daiwa America raised shares of MP Materials to a “strong-buy” rating in a research report on Monday, September 22nd. JPMorgan Chase & Co. raised shares of MP Materials from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $75.00 to $74.00 in a research report on Friday, November 14th. Wall Street Zen downgraded shares of MP Materials from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, BMO Capital Markets started coverage on shares of MP Materials in a report on Thursday, October 9th. They set a “market perform” rating and a $76.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.82.

Check Out Our Latest Research Report on MP Materials

MP Materials Price Performance

The firm has a 50-day moving average of $68.79 and a 200-day moving average of $53.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 7.51 and a current ratio of 8.05. The firm has a market capitalization of $9.80 billion, a P/E ratio of -77.86 and a beta of 2.26.

MP Materials (NYSE:MP – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. The business had revenue of $53.55 million during the quarter, compared to analyst estimates of $49.72 million. MP Materials had a negative return on equity of 7.69% and a negative net margin of 50.55%.The company’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) EPS. As a group, analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Institutional Investors Weigh In On MP Materials

Large investors have recently bought and sold shares of the business. Sound Income Strategies LLC lifted its stake in MP Materials by 420.0% during the 3rd quarter. Sound Income Strategies LLC now owns 364 shares of the company’s stock valued at $26,000 after acquiring an additional 294 shares during the period. Grove Bank & Trust bought a new stake in shares of MP Materials in the third quarter worth approximately $34,000. SJS Investment Consulting Inc. raised its holdings in shares of MP Materials by 4,600.0% during the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company’s stock valued at $38,000 after purchasing an additional 552 shares during the last quarter. Hilltop National Bank raised its holdings in shares of MP Materials by 500.0% during the third quarter. Hilltop National Bank now owns 600 shares of the company’s stock valued at $40,000 after purchasing an additional 500 shares during the last quarter. Finally, Montag A & Associates Inc. lifted its position in MP Materials by 106.2% during the third quarter. Montag A & Associates Inc. now owns 635 shares of the company’s stock valued at $43,000 after purchasing an additional 327 shares during the period. 52.55% of the stock is currently owned by institutional investors.

MP Materials Company Profile

(Get Free Report)

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.

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