Ryan Corbett Sells 15,000 Shares of MP Materials Corp. (NYSE:MP) Stock

by · The Markets Daily

MP Materials Corp. (NYSE:MP – Get Free Report) CFO Ryan Corbett sold 15,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the sale, the chief financial officer now owns 214,812 shares of the company’s stock, valued at $5,799,924. The trade was a 6.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 Stock Up 0.6 %

NYSE MP traded up $0.17 during trading hours on Tuesday, hitting $26.86. The company’s stock had a trading volume of 4,308,476 shares, compared to its average volume of 3,108,582. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $27.06. The company has a market capitalization of $4.39 billion, a PE ratio of -45.53 and a beta of 2.32. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The company’s 50-day simple moving average is $22.83 and its two-hundred day simple moving average is $19.41.

MP Materials (NYSE:MP – Get Free Report) 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). The business had revenue of $60.99 million during the quarter, compared to the consensus estimate of $50.71 million. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. Research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. BMO Capital Markets upped their price target on shares of MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Canaccord Genuity Group upped their price target 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, MP Materials has an average rating of “Moderate Buy” and a consensus target price of $22.45.

Check Out Our Latest Analysis on MP Materials

Institutional Investors Weigh In On MP Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in MP. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 2,005,505 shares during the last quarter. Victory Capital Management Inc. raised its holdings in MP Materials by 3.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company’s stock valued at $37,945,000 after acquiring an additional 73,297 shares during the period. Dimensional Fund Advisors LP raised its holdings in MP Materials by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company’s stock valued at $34,433,000 after acquiring an additional 176,121 shares during the period. Invesco Ltd. raised its holdings in MP Materials by 0.4% during the 4th quarter. Invesco Ltd. now owns 2,118,580 shares of the company’s stock valued at $33,050,000 after acquiring an additional 7,453 shares during the period. Finally, Segall Bryant & Hamill LLC grew its position 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 valued at $21,988,000 after purchasing an additional 306,933 shares in the last quarter. Hedge funds and other institutional investors own 52.55% of the company’s stock.

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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