MP Materials (MP) Expected to Announce Quarterly Earnings on Thursday

MP Materials (NYSE:MP) is expected to post its quarterly earnings results after the market closes on Thursday, February 20th. Analysts expect MP Materials to post earnings of ($0.09) per share and revenue of $50.27 million for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

MP Materials Price Performance

Shares of MP opened at $24.15 on Thursday. MP Materials has a 1-year low of $10.02 and a 1-year high of $26.00. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -44.72 and a beta of 2.34. The company’s fifty day simple moving average is $19.90 and its 200 day simple moving average is $17.42. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88.

Analysts Set New Price Targets

MP has been the topic of several research reports. BMO Capital Markets upped their price objective on shares of MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Canaccord Genuity Group upped their price objective on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.45.

Insider Activity

In related news, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the sale, the chief financial officer now owns 260,021 shares of the company’s stock, valued at $5,590,451.50. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James H. Litinsky sold 300,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the sale, the chief executive officer now directly owns 18,221,776 shares of the company’s stock, valued at $336,191,767.20. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,271,085 shares of company stock valued at $26,757,696. 12.60% of the stock is owned by company insiders.

MP Materials Company Profile

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.