MP Materials (NYSE:MP) CEO James Litinsky Sells 122,812 Shares

MP Materials Corp. (NYSE:MP - Get Free Report) CEO James Litinsky sold 122,812 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $65.90, for a total transaction of $8,093,310.80. Following the completion of the sale, the chief executive officer owned 12,383,153 shares in the company, valued at approximately $816,049,782.70. The trade was a 0.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

MP Materials Trading Down 5.2%

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Shares of MP Materials stock opened at $60.42 on Friday. The company's fifty day simple moving average is $58.81 and its 200-day simple moving average is $59.36. The company has a market cap of $10.74 billion, a price-to-earnings ratio of -143.86 and a beta of 1.90. 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 Corp. has a 1 year low of $18.64 and a 1 year high of $100.25.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $90.65 million for the quarter, compared to the consensus estimate of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. MP Materials's quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.12) earnings per share. As a group, sell-side analysts expect that MP Materials Corp. will post 0.1 EPS for the current year.

Institutional Investors Weigh In On MP Materials

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• MP Materials Is Quietly Building a Rare Earth Powerhouse

A number of institutional investors have recently bought and sold shares of the business. Costello Asset Management INC boosted its stake in MP Materials by 15.0% during the fourth quarter. Costello Asset Management INC now owns 1,300 shares of the company's stock worth $66,000 after buying an additional 170 shares in the last quarter. Composition Wealth LLC boosted its stake in MP Materials by 0.9% during the fourth quarter. Composition Wealth LLC now owns 18,334 shares of the company's stock worth $926,000 after buying an additional 172 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in MP Materials by 28.1% during the third quarter. Wolff Wiese Magana LLC now owns 806 shares of the company's stock worth $54,000 after buying an additional 177 shares in the last quarter. IMG Wealth Management Inc. boosted its stake in MP Materials by 4.7% during the third quarter. IMG Wealth Management Inc. now owns 4,446 shares of the company's stock worth $298,000 after buying an additional 200 shares in the last quarter. Finally, ARS Investment Partners LLC boosted its stake in MP Materials by 1.0% during the fourth quarter. ARS Investment Partners LLC now owns 19,980 shares of the company's stock worth $1,009,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company's stock.

MP Materials News Summary

Here are the key news stories impacting MP Materials this week:

• Positive Sentiment: Morgan Stanley raised its price target on MP Materials to $70 from $62 and reiterated an Overweight rating, reflecting higher expectations for the stock. Article Title
• Positive Sentiment: Deutsche Bank increased its price target on MP Materials to $70 from $65 and kept a Buy rating after the company’s Q1 results, adding to bullish analyst momentum. Article Title
• Positive Sentiment: MP Materials reported Q1 earnings of $0.03 per share, beating estimates, while revenue rose 49.1% year over year to $90.65 million, supporting the stock’s recent strength. Article Title
• Positive Sentiment: Recent coverage highlighted record production and growth in rare earth output and magnet production, reinforcing the long-term growth story. Article Title

Analyst Upgrades and Downgrades

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Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their price objective on shares of MP Materials from $62.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday. Wedbush raised their price objective on shares of MP Materials from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. William Blair restated an "outperform" rating on shares of MP Materials in a research note on Wednesday, March 4th. DA Davidson reiterated a "buy" rating and set a $82.00 price target on shares of MP Materials in a research note on Wednesday, March 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of MP Materials in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $81.00.

View Our Latest Stock Report on MP Materials

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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