Key Points
- MP Materials CEO James Litinsky sold 185,167 shares on June 3 at an average price of $69.14, for proceeds of about $12.8 million. After the sale, he still owned roughly 11.62 million shares.
- The company recently beat quarterly expectations, reporting EPS of $0.03 versus the expected loss of $0.01 and revenue of $90.65 million, up 49.1% year over year. Despite the beat, MP Materials still posted negative net margin and return on equity.
- Wall Street remains mostly bullish on MP Materials, with an average analyst rating of “Buy” and an average price target of $80.14. Several firms recently set targets in the $69 to $82 range, though one analyst maintained a sell rating.
MP Materials Corp. (NYSE:MP - Get Free Report) CEO James Litinsky sold 185,167 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $69.14, for a total transaction of $12,802,446.38. Following the completion of the sale, the chief executive officer owned 11,620,798 shares in the company, valued at approximately $803,461,973.72. This trade represents a 1.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
MP Materials Stock Performance
Shares of MP Materials stock opened at $59.20 on Friday. The firm has a market cap of $10.54 billion, a PE ratio of -140.96 and a beta of 1.86. The firm's 50-day simple moving average is $60.78 and its 200-day simple moving average is $59.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18. MP Materials Corp. has a 1 year low of $23.26 and a 1 year high of $100.25.
MP Materials (NYSE:MP - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.04. The business had revenue of $90.65 million for the quarter, compared to analyst estimates of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The company's revenue for the quarter was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.12) EPS. Equities analysts forecast that MP Materials Corp. will post -0.04 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of MP Materials in a research note on Monday. They issued a "buy" rating and a $81.00 target price on the stock. Canaccord Genuity Group set a $82.00 target price on shares of MP Materials in a research note on Friday, May 8th. Barclays assumed coverage on shares of MP Materials in a research note on Thursday, May 21st. They issued an "overweight" rating and a $69.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of MP Materials in a research note on Tuesday, April 21st. Finally, Morgan Stanley raised their price target on shares of MP Materials from $62.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $80.14.
View Our Latest Analysis on MP
Institutional Investors Weigh In On MP Materials
Several large investors have recently made changes to their positions in the company. EMC Capital Management bought a new position in shares of MP Materials in the fourth quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of MP Materials in the fourth quarter valued at approximately $26,000. REAP Financial Group LLC bought a new position in shares of MP Materials in the fourth quarter valued at approximately $26,000. Financial Consulate Inc. boosted its holdings in shares of 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 in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of MP Materials in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 52.55% of the company's stock.
MP Materials Company Profile
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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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