MP Materials Corp. (NYSE:MP) CFO Ryan Corbett Sells 35,000 Shares

MP Materials Corp. (NYSE:MP) CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total value of $752,500.00. Following the completion of the transaction, the chief financial officer now owns 260,021 shares in the company, valued at $5,590,451.50. The trade was a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ryan Corbett also recently made the following trade(s):

• On Monday, November 18th, Ryan Corbett sold 15,195 shares of MP Materials stock. The shares were sold at an average price of $18.30, for a total value of $278,068.50.

MP Materials Trading Up 1.1 %

Shares of MP stock opened at $21.07 on Monday. The company has a market cap of $3.44 billion, a PE ratio of -39.02 and a beta of 2.23. The stock’s 50 day simple moving average is $18.41 and its two-hundred day simple moving average is $15.51. MP Materials Corp. has a 1 year low of $10.02 and a 1 year high of $21.70. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13.

MP Materials declared that its board has approved a share repurchase plan on Tuesday, September 3rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 13.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. DA Davidson boosted their target price on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Canaccord Genuity Group boosted their target price on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft decreased their target price on MP Materials from $13.50 to $12.50 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Finally, BMO Capital Markets boosted their target price on MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.10.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MP. GAMMA Investing LLC grew its stake in shares of MP Materials by 136.0% during the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after buying an additional 1,285 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of MP Materials by 3,803.8% during the second quarter. Nisa Investment Advisors LLC now owns 4,060 shares of the company’s stock valued at $52,000 after buying an additional 3,956 shares during the last quarter. Signaturefd LLC grew its stake in shares of MP Materials by 817.5% during the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock valued at $65,000 after buying an additional 3,262 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of MP Materials during the second quarter valued at approximately $72,000. Finally, KBC Group NV grew its stake in shares of MP Materials by 35.7% during the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock valued at $84,000 after buying an additional 1,246 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.

About MP Materials

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.