MP Materials (NYSE:MP) COO Acquires $962,540.00 in Stock

MP Materials Corp. (NYSE:MP) COO Michael Stuart Rosenthal acquired 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $56.62 per share, with a total value of $962,540.00. Following the acquisition, the chief operating officer directly owned 1,333,673 shares of the company’s stock, valued at $75,512,565.26. The trade was a 1.29% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

MP Materials Stock Performance

NYSE MP traded up $1.36 during trading hours on Wednesday, reaching $56.29. 7,734,478 shares of the company were exchanged, compared to its average volume of 6,652,957. MP Materials Corp. has a 1 year low of $18.64 and a 1 year high of $100.25. The business’s 50 day simple moving average is $58.62 and its 200-day simple moving average is $59.14. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $10.02 billion, a P/E ratio of -134.01 and a beta of 1.90.

MP Materials (NYSE:MP) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $90.65 million during the quarter, compared to analyst estimates of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The company’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.12) earnings per share. On average, equities research analysts expect that MP Materials Corp. will post 0.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. William Blair reiterated an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. Wedbush increased their target price on shares of MP Materials from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Morgan Stanley increased their target price on shares of MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a research report on Tuesday, April 21st. Finally, DA Davidson reiterated a “buy” rating and set a $82.00 target price on shares of MP Materials in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MP Materials has an average rating of “Buy” and an average price target of $81.00.

Hedge Funds Weigh In On MP Materials

Large investors have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of MP Materials during the third quarter worth approximately $670,000. Private Advisory Group LLC purchased a new position in shares of MP Materials during the fourth quarter worth approximately $9,702,000. Concurrent Investment Advisors LLC purchased a new position in shares of MP Materials during the third quarter worth approximately $550,000. Pier 88 Investment Partners LLC purchased a new position in shares of MP Materials during the third quarter worth approximately $1,089,000. Finally, Polianta Ltd purchased a new position in shares of MP Materials during the fourth quarter worth approximately $1,227,000. 52.55% of the stock is currently owned by institutional investors.

About MP Materials

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.