MP Materials (NYSE:MP) COO Buys $543,000.00 in Stock

MP Materials Corp. (NYSE:MP) COO Michael Stuart Rosenthal acquired 10,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $54.30 per share, for a total transaction of $543,000.00. Following the acquisition, the chief operating officer owned 136,622 shares of the company’s stock, valued at approximately $7,418,574.60. The trade was a 7.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Michael Stuart Rosenthal also recently made the following trade(s):

• On Wednesday, May 20th, Michael Stuart Rosenthal acquired 17,000 shares of MP Materials stock. The shares were purchased at an average cost of $56.62 per share, for a total transaction of $962,540.00.

MP Materials Stock Performance

Shares of MP stock traded down $0.54 during mid-day trading on Wednesday, hitting $53.76. 2,764,420 shares of the stock were exchanged, compared to its average volume of 6,980,479. The stock’s fifty day simple moving average is $60.96 and its two-hundred day simple moving average is $59.70. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of -128.46 and a beta of 1.86. MP Materials Corp. has a 12-month low of $23.26 and a 12-month high of $100.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.58 and a current ratio of 7.18.

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

Analyst Ratings Changes

MP has been the topic of several research reports. Morgan Stanley raised their price objective on MP Materials from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Needham & Company LLC initiated coverage on MP Materials in a report on Monday, June 1st. They set a “buy” rating and a $81.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of MP Materials in a report on Tuesday, May 12th. Finally, Canaccord Genuity Group set a $82.00 price target on MP Materials in a report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $80.14.

Hedge Funds Weigh In On MP Materials

Large investors have recently modified their holdings of the business. EMC Capital Management purchased a new position in shares of MP Materials during the 4th quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. purchased a new position in MP Materials in the fourth quarter worth $26,000. REAP Financial Group LLC purchased a new position in MP Materials in the fourth quarter worth $26,000. Financial Consulate Inc. raised its position in MP Materials by 555.3% in the fourth quarter. Financial Consulate Inc. now owns 557 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in MP Materials in the fourth quarter worth $28,000. 52.55% of the stock is owned by hedge funds and other 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.