MP Materials Corporation (NYSE:MP) shares traded -8.57% lower at $21.13 on Wall Street last session.
MP stock price is now 13.12% away from the 50-day moving average and 35.56% away from the 200-day moving average. The market capitalization of the company currently stands at $3.45B.
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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, Litinsky James H., Chairman and CEO sold 1,579,110 shares of the company’s stock on Dec 03 ’24. The stock was sold for $36,934,246 at an average price of $23.39. Upon completion of the transaction, the Chairman and CEO now directly owns 16,029,299 shares in the company, valued at $338.7 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 02 ’24, Chairman and CEO Litinsky James H. sold 234,667 shares of the business’s stock. A total of $4,852,914 was realized by selling the stock at an average price of $20.68. This leaves the insider owning 17,608,409 shares of the company worth $372.07 million. A total of 29.04% 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 $24.01. As of last week, the company has a debt-to-equity ratio of 0.89, a current ratio of 6.93, and a quick ratio of 6.13. The fifty day moving average price for MP is $18.577 and a two-hundred day moving average price translates $15.5623 for the stock.
The latest earnings results from MP Materials Corporation (NYSE: MP) was released for 2024-09-30. The net profit margin was -32.24% and return on equity was -4.86% for MP. The company reported revenue of $62.93 million for the quarter, compared to $52.52 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.82 percent.
