The stock of MP Materials Corporation (NYSE:MP) last traded at $18.29, down -3.74% from the previous session.
MP stock price is now 25.30% away from the 50-day moving average and 20.63% away from the 200-day moving average. The market capitalization of the company currently stands at $3.02B.
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With the price target enhanced from $20 to $25, Robert W. Baird maintained Outperform rating for MP Materials Corporation (NYSE: MP). On July 15, 2024, BMO Capital Markets recently initiated its ‘Market Perform’ rating on the stock quoting a target price of $16.50, while ‘JP Morgan’ rates the stock as ‘Neutral’
In other news, Rosenthal Michael Stuart, Chief Operating Officer bought 30,000 shares of the company’s stock on Aug 06 ’24. The stock was bought for $325,200 at an average price of $10.84. Upon completion of the transaction, the Chief Operating Officer now directly owns 1,402,975 shares in the company, valued at $25.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 28 ’24, Chief Financial Officer Corbett Ryan sold 50,000 shares of the business’s stock. A total of $846,500 was realized by selling the stock at an average price of $16.93. This leaves the insider owning 325,021 shares of the company worth $5.94 million. A total of 26.11% of the company’s stock is owned by insiders.
During the past 12 months, MP Materials Corporation has had a low of $10.02 and a high of $20.85. As of last week, the company has a debt-to-equity ratio of 0.85, a current ratio of 6.90, and a quick ratio of 6.17. The fifty day moving average price for MP is $14.597 and a two-hundred day moving average price translates $15.1617 for the stock.
The latest earnings results from MP Materials Corporation (NYSE: MP) was released for 2024-06-30. The net profit margin was -21.94% and return on equity was -3.08% for MP. The company reported revenue of $31.26 million for the quarter, compared to $64.02 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -51.18 percent.
