MP Materials Corp. (NYSE:MP – Get Free Report) CEO James Litinsky sold 50,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $64.58, for a total value of $3,229,000.00. Following the sale, the chief executive officer directly owned 11,805,965 shares of the company’s stock, valued at approximately $762,429,219.70. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
MP Materials Trading Down 3.4%
MP stock traded down $2.26 during midday trading on Friday, hitting $64.57. 5,062,831 shares of the company’s stock were exchanged, compared to its average volume of 6,944,660. The business has a 50-day simple moving average of $59.36 and a two-hundred day simple moving average of $59.52. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $11.50 billion, a PE ratio of -153.75 and a beta of 1.90. MP Materials Corp. has a 1-year low of $19.60 and a 1-year high of $100.25.
MP Materials (NYSE:MP – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. The company had revenue of $90.65 million during the quarter, compared to analysts’ expectations of $74.82 million. MP Materials had a negative return on equity of 2.27% and a negative net margin of 28.00%.The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.12) earnings per share. On average, sell-side analysts predict that MP Materials Corp. will post -0.04 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
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Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hancock Prospecting Pty Ltd boosted its holdings in MP Materials by 7.2% in the third quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company’s stock valued at $996,741,000 after purchasing an additional 1,000,000 shares during the period. Vanguard Group Inc. boosted its holdings in MP Materials by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 14,479,787 shares of the company’s stock valued at $731,519,000 after purchasing an additional 459,213 shares during the period. State Street Corp boosted its holdings in MP Materials by 13.2% in the fourth quarter. State Street Corp now owns 6,597,885 shares of the company’s stock valued at $333,325,000 after purchasing an additional 769,517 shares during the period. BNP Paribas Financial Markets boosted its holdings in MP Materials by 76.3% in the second quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock valued at $97,200,000 after purchasing an additional 1,264,243 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in MP Materials by 71.6% in the fourth quarter. Van ECK Associates Corp now owns 2,834,914 shares of the company’s stock valued at $143,220,000 after purchasing an additional 1,183,307 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.
MP Materials Company Profile
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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