Insider Selling: MP Materials (NYSE:MP) CEO Sells 177,188 Shares of Stock

MP Materials Corp. (NYSE:MPGet Free Report) CEO James Litinsky sold 177,188 shares of MP Materials stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.13, for a total transaction of $11,540,254.44. Following the completion of the sale, the chief executive officer owned 12,205,965 shares of the company’s stock, valued at approximately $794,974,500.45. This trade represents a 1.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

MP Materials Stock Down 5.2%

NYSE MP traded down $3.31 during trading hours on Thursday, reaching $60.42. 9,869,247 shares of the company traded hands, compared to its average volume of 6,562,317. The company has a 50 day moving average of $58.81 and a two-hundred day moving average of $59.36. The stock has a market capitalization of $10.74 billion, a PE ratio of -143.86 and a beta of 1.90. MP Materials Corp. has a 12 month low of $18.64 and a 12 month high of $100.25. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MPGet Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $90.65 million during the quarter, compared to the consensus estimate of $74.82 million. During the same period last year, the firm earned ($0.12) earnings per share. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. As a group, equities analysts expect that MP Materials Corp. will post 0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

MP has been the subject of several recent research reports. Wall Street Zen raised MP Materials from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. William Blair reaffirmed an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. TD Securities raised shares of MP Materials to a “strong-buy” rating in a report on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of MP Materials in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MP Materials currently has an average rating of “Buy” and a consensus target price of $81.00.

Read Our Latest Stock Analysis on MP Materials

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. EMC Capital Management bought a new stake in shares of MP Materials during the fourth quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of MP Materials during the fourth quarter valued at approximately $26,000. REAP Financial Group LLC bought a new stake in shares of MP Materials in the 4th quarter worth $26,000. Financial Consulate Inc. lifted its holdings in MP Materials by 555.3% in the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in MP Materials during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds 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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Insider Buying and Selling by Quarter for MP Materials (NYSE:MP)

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