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

MP Materials (NYSE:MP) is expected to be issuing its quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of ($0.09) per share and revenue of $50.27 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

MP Materials Stock Down 2.2 %

NYSE:MP opened at $24.15 on Thursday. The stock’s fifty day moving average price is $19.90 and its two-hundred day moving average price is $17.42. MP Materials has a 52-week low of $10.02 and a 52-week high of $26.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -44.72 and a beta of 2.34.

Wall Street Analysts Forecast Growth

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

Insider Activity at MP Materials

In related news, CFO Ryan Corbett sold 35,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the transaction, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $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. Also, CEO James H. Litinsky sold 386,223 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total transaction of $9,273,214.23. Following the transaction, the chief executive officer now owns 15,643,076 shares in the company, valued at approximately $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,271,085 shares of company stock worth $26,757,696 in the last quarter. Corporate insiders own 12.60% of the company’s stock.

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.