Ryan Corbett Sells 16,500 Shares of MP Materials Corp. (NYSE:MP) Stock

MP Materials Corp. (NYSE:MPGet Rating) CFO Ryan Corbett sold 16,500 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $32.39, for a total value of $534,435.00. Following the completion of the transaction, the chief financial officer now directly owns 211,476 shares in the company, valued at approximately $6,849,707.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

MP Materials Stock Up 0.6 %

NYSE:MP opened at $32.68 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 17.33 and a current ratio of 18.15. The company has a market cap of $5.80 billion, a PE ratio of 23.01, a PEG ratio of 1.56 and a beta of 2.69. MP Materials Corp. has a 52-week low of $26.19 and a 52-week high of $60.19. The stock has a 50-day simple moving average of $30.58 and a 200 day simple moving average of $33.40.

Analyst Upgrades and Downgrades

MP has been the topic of several analyst reports. Cowen cut their target price on MP Materials to $40.00 in a research note on Thursday, October 20th. Robert W. Baird increased their price target on MP Materials from $45.00 to $55.00 in a report on Friday, August 5th. Morgan Stanley lowered their price target on MP Materials from $46.00 to $45.50 and set an “overweight” rating for the company in a report on Friday, September 16th. Finally, Canaccord Genuity Group lowered their price target on MP Materials from $47.00 to $40.00 in a report on Wednesday, September 28th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $47.39.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MP. Kestra Advisory Services LLC grew its holdings in shares of MP Materials by 18.0% during the first quarter. Kestra Advisory Services LLC now owns 5,451 shares of the company’s stock worth $313,000 after buying an additional 832 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of MP Materials during the first quarter worth about $513,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of MP Materials during the first quarter worth about $69,000. National Asset Management Inc. grew its holdings in shares of MP Materials by 32.2% during the first quarter. National Asset Management Inc. now owns 6,055 shares of the company’s stock worth $348,000 after buying an additional 1,475 shares in the last quarter. Finally, Calamos Advisors LLC bought a new position in shares of MP Materials during the first quarter worth about $1,328,000. 71.49% of the stock is currently owned by institutional investors.

About MP Materials

(Get Rating)

MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company 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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Insider Buying and Selling by Quarter for MP Materials (NYSE:MP)

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