MP Materials (NYSE:MP) Posts Earnings Results, Misses Estimates By $0.05 EPS

MP Materials (NYSE:MP) issued its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05), Zacks reports. MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The company had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million.

MP Materials Stock Performance

Shares of MP opened at $24.25 on Friday. The company has a 50-day moving average of $20.45 and a two-hundred day moving average of $17.93. The stock has a market cap of $3.96 billion, a P/E ratio of -41.09 and a beta of 2.34. MP Materials has a 12-month low of $10.02 and a 12-month high of $26.00. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88.

Analyst Ratings Changes

Several equities analysts have issued reports on MP shares. BMO Capital Markets boosted their price objective on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Canaccord Genuity Group raised their price target on MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, MP Materials presently has an average rating of “Moderate Buy” and a consensus target price of $22.45.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $20.22, for a total value of $6,066,000.00. Following the transaction, the chief executive officer now directly owns 18,043,076 shares in the company, valued at approximately $364,830,996.72. This represents a 1.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Corbett sold 35,000 shares of MP Materials stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.50, for a total transaction of $752,500.00. Following the sale, the chief financial officer now owns 260,021 shares of the company’s stock, valued at approximately $5,590,451.50. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 955,890 shares of company stock valued at $20,944,628 in the last ninety days. Corporate insiders own 12.60% 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.