MP Materials (NYSE:MP) Trading Down 1.4% – Should You Sell?

by · The Markets Daily

MP Materials Corp. (NYSE:MP – Get Free Report)’s stock price dropped 1.4% during mid-day trading on Tuesday . The stock traded as low as $56.01 and last traded at $58.2140. Approximately 6,583,113 shares traded hands during trading, a decline of 40% from the average daily volume of 10,905,568 shares. The stock had previously closed at $59.04.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MP shares. Deutsche Bank Aktiengesellschaft raised MP Materials from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $71.00 in a research report on Monday, November 10th. The Goldman Sachs Group initiated coverage on shares of MP Materials in a report on Wednesday, November 19th. They issued a “buy” rating and a $77.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a report on Wednesday, October 8th. Daiwa Capital Markets initiated coverage on shares of MP Materials in a research report on Monday, September 22nd. They issued an “outperform” rating and a $80.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating on shares of MP Materials in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, MP Materials currently has an average rating of “Moderate Buy” and a consensus target price of $78.73.

Check Out Our Latest Research Report on MP

MP Materials Stock Down 1.4%

The company has a market capitalization of $10.32 billion, a PE ratio of -81.99 and a beta of 2.26. The stock’s fifty day moving average is $68.49 and its two-hundred day moving average is $54.61. The company has a current ratio of 8.05, a quick ratio of 7.51 and a debt-to-equity ratio of 0.47.

MP Materials (NYSE:MP – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate 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 business had revenue of $53.55 million for the quarter, compared to analyst estimates of $49.72 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. As a group, analysts predict that MP Materials Corp. will post -0.19 EPS for the current year.

Insider Activity at MP Materials

In other MP Materials news, COO Michael Stuart Rosenthal sold 150,000 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $72.02, for a total value of $10,803,000.00. Following the sale, the chief operating officer directly owned 1,284,409 shares in the company, valued at $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James H. Litinsky sold 248,411 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $63.86, for a total value of $15,863,526.46. Following the transaction, the chief executive officer directly owned 13,369,665 shares in the company, valued at $853,786,806.90. This represents a 1.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 418,411 shares of company stock worth $27,820,926. Insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On MP Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its holdings in MP Materials by 10.4% during the third quarter. CIBC Private Wealth Group LLC now owns 3,042 shares of the company’s stock valued at $204,000 after purchasing an additional 286 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of MP Materials in the third quarter valued at approximately $244,000. Tcfg Wealth Management LLC lifted its stake in shares of MP Materials by 54.3% during the 3rd quarter. Tcfg Wealth Management LLC now owns 27,800 shares of the company’s stock valued at $1,865,000 after buying an additional 9,785 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in shares of MP Materials during the 3rd quarter valued at approximately $191,000. Finally, Sunbelt Securities Inc. boosted its holdings in MP Materials by 81.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,495 shares of the company’s stock worth $234,000 after buying an additional 1,571 shares during the period. 52.55% of the stock is currently owned by institutional investors.

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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