Key Points
- MP Materials CEO James Litinsky sold 115,349 shares on May 27 for about $7.54 million at an average price of $65.37, reducing his ownership by 0.95%. He still owns over 12.09 million shares valued at roughly $790.4 million.
- The company recently beat quarterly expectations, reporting EPS of $0.03 versus the expected loss of $0.01 and revenue of $90.65 million versus $74.82 million expected. Revenue rose 49.1% year over year, though the company remains unprofitable.
- Wall Street sentiment remains bullish overall, with a consensus rating of “Buy” and an average price target of $80.08. Several analysts recently reiterated buy ratings or set $82 price targets on the stock.
MP Materials Corp. (NYSE:MP - Get Free Report) CEO James Litinsky sold 50,000 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $64.58, for a total value of $3,229,000.00. Following the completion of the sale, the chief executive officer directly owned 11,805,965 shares of the company's stock, valued at approximately $762,429,219.70. The trade was a 0.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
MP Materials Trading Down 3.4%
Shares of MP stock opened at $64.57 on Friday. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of -153.75 and a beta of 1.90. The stock has a 50-day moving average of $59.36 and a 200-day 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. 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 issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating 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 business's quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. On average, equities research analysts forecast that MP Materials Corp. will post -0.04 earnings per share for the current year.
Institutional Investors Weigh In On MP Materials
Hedge funds have recently added to or reduced their stakes in the company. EMC Capital Management acquired a new stake in MP Materials in the fourth quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in MP Materials in the fourth quarter valued at approximately $26,000. REAP Financial Group LLC acquired a new stake in MP Materials in the fourth quarter valued at approximately $26,000. Financial Consulate Inc. grew its stake in MP Materials by 555.3% in the fourth 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 period. Finally, Los Angeles Capital Management LLC acquired a new stake in MP Materials in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 52.55% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on MP shares. Barclays assumed coverage on MP Materials in a research report on Thursday, May 21st. They set an "overweight" rating and a $69.00 target price on the stock. Wedbush lifted their target price on MP Materials from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. TD Securities upgraded MP Materials to a "strong-buy" rating in a report on Monday, February 9th. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Finally, Morgan Stanley lifted their target price on MP Materials from $62.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $80.08.
View Our Latest Stock Analysis 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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