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James H. Litinsky, Chairman and CEO of MP Materials Corp. (NYSE:MP), has recently sold a significant portion of his holdings in the company, according to a recent SEC filing. Litinsky sold a total of 414,812 shares over two days, with transactions occurring on March 25 and March 26. The sales amounted to approximately $11.2 million, with share prices ranging between $27.00 and $27.03. The timing is notable as the stock trades near its 52-week high of $27.29, having delivered an impressive 67.76% return year-to-date, according to InvestingPro data.
Following these transactions, Litinsky retains ownership of 13,842,256 shares indirectly through the James Henry Litinsky Revocable Trust. The sales were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks, typically to avoid any allegations of insider trading. Track insider movements and access comprehensive analysis with InvestingPro, which offers detailed insights on MP Materials and 1,400+ other US stocks.
MP Materials Corp., based in Las Vegas, is a leader in the production of rare earth materials, which are critical components in many high-tech and clean energy applications. With a market capitalization of $4.29 billion and a strong liquidity position reflected in its 6.29 current ratio, the company maintains a solid financial foundation despite recent revenue challenges, showing a 19.57% decline in the last twelve months.
In other recent news, MP Materials reported its fourth-quarter 2024 earnings, showing a mixed financial performance. The company posted an earnings per share (EPS) of -$0.12, slightly below the forecast of -$0.11, but delivered strong revenue of $60.99 million, surpassing the expected $51.22 million. Analysts at Canaccord Genuity reiterated a Buy rating with a $26 target, citing the company’s strategic position and progress in rare earth magnetics production. BMO Capital Markets raised its price target to $29, maintaining a Market Perform rating, reflecting the strategic importance of MP Materials’ operations amid geopolitical discussions about rare earth elements. DA Davidson also maintained a Buy rating with a $32 target, expressing confidence in the company’s growth trajectory and alignment with favorable government policies. These developments come as the company continues to focus on enhancing operational efficiencies and capitalizing on the increasing importance of rare earth elements in high-tech applications. Meanwhile, MP Materials is seen as strategically valuable, especially with U.S. initiatives to enhance domestic supply chains for critical materials.
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