Key Points
- CFO Ryan Corbett sold 38,146 shares of MP Materials on Dec. 9 at an average price of $60.00 for a total of $2,288,760, reducing his direct stake by 19.58% to 156,666 shares (~$9.4M).
- Corbett also sold 20,000 shares on Nov. 17 at $57.72 (≈$1.15M), indicating consecutive insider dispositions within weeks.
- MP stock was down about 3%, the company has a market cap of $10.28B, and recent results showed a ($0.10) EPS beat with revenue of $53.55M (down 14.9% YoY) and a negative net margin of 50.55%; analysts have a consensus rating of Moderate Buy with a $78.91 price target.
MP Materials Corp. (NYSE:MP - Get Free Report) CFO Ryan Corbett sold 38,146 shares of MP Materials stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $60.00, for a total value of $2,288,760.00. Following the transaction, the chief financial officer directly owned 156,666 shares in the company, valued at approximately $9,399,960. This trade represents a 19.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ryan Corbett also recently made the following trade(s):
- On Monday, November 17th, Ryan Corbett sold 20,000 shares of MP Materials stock. The stock was sold at an average price of $57.72, for a total transaction of $1,154,400.00.
MP Materials Stock Down 3.0%
MP stock opened at $58.03 on Thursday. The company has a market cap of $10.28 billion, a price-to-earnings ratio of -81.73 and a beta of 1.69. The company has a fifty day moving average price of $66.01 and a 200 day moving average price of $57.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 8.05 and a quick ratio of 7.51. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $100.25.
MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.05. MP Materials had a negative net margin of 50.55% and a negative return on equity of 7.69%. The company had revenue of $53.55 million for the quarter, compared to analyst estimates of $49.72 million. During the same period in the previous year, the business posted ($0.12) earnings per share. MP Materials's quarterly revenue was down 14.9% on a year-over-year basis. Sell-side analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.
Institutional Trading of MP Materials
Institutional investors have recently added to or reduced their stakes in the stock. Moneda S.A. Administradora General de Fondos purchased a new position in MP Materials in the third quarter valued at about $422,000. Allworth Financial LP grew its holdings in shares of MP Materials by 34.6% in the 3rd quarter. Allworth Financial LP now owns 2,737 shares of the company's stock worth $184,000 after acquiring an additional 703 shares during the period. IFP Advisors Inc increased its stake in MP Materials by 62.9% in the 3rd quarter. IFP Advisors Inc now owns 47,913 shares of the company's stock valued at $3,219,000 after purchasing an additional 18,496 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new stake in MP Materials in the third quarter valued at $404,000. Finally, Innova Wealth Partners acquired a new position in shares of MP Materials during the 3rd quarter worth $220,000. Hedge funds and other institutional investors own 52.55% of the company's stock.
Wall Street Analyst Weigh In
MP has been the subject of several analyst reports. BMO Capital Markets raised MP Materials from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from $76.00 to $75.00 in a research note on Monday, November 24th. Wall Street Zen lowered MP Materials from a "hold" rating to a "sell" rating in a report on Saturday, November 15th. Morgan Stanley upgraded MP Materials from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $68.50 to $71.00 in a research note on Friday, December 5th. Benchmark reissued a "buy" rating on shares of MP Materials in a research note on Friday, August 29th. Finally, Daiwa America upgraded shares of MP Materials to a "strong-buy" rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, MP Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.91.
Check Out Our Latest Analysis on MP
About MP Materials
(
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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