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

MP Materials Corp. (NYSE:MP) COO Michael Stuart Rosenthal bought 10,000 shares of MP Materials stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $54.30 per share, with a total value of $543,000.00. Following the completion of the purchase, the chief operating officer owned 136,622 shares in the company, valued at approximately $7,418,574.60. The trade was a 7.90% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

MP Materials Stock Performance

MP Materials stock opened at $57.70 on Friday. The stock has a market cap of $10.27 billion, a P/E ratio of -137.37 and a beta of 1.86. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $61.48 and a 200-day moving average of $59.68. MP Materials Corp. has a 52 week low of $28.35 and a 52 week high of $100.25.

MP Materials (NYSE:MP) last released its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The company had revenue of $90.65 million during the quarter, compared to analysts’ expectations 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 revenue was up 49.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) EPS. On average, analysts expect that MP Materials Corp. will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On MP Materials

Several large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in MP Materials by 5.8% during the first quarter. Parallel Advisors LLC now owns 4,697 shares of the company’s stock worth $227,000 after purchasing an additional 259 shares during the last quarter. NewEdge Advisors LLC increased its position in MP Materials by 102.5% in the first quarter. NewEdge Advisors LLC now owns 16,908 shares of the company’s stock worth $816,000 after buying an additional 8,557 shares during the period. Alpine Woods Capital Investors LLC increased its position in MP Materials by 138.7% in the first quarter. Alpine Woods Capital Investors LLC now owns 22,557 shares of the company’s stock worth $1,089,000 after buying an additional 13,109 shares during the period. BankChampaign National Association acquired a new stake in MP Materials in the first quarter worth $477,000. Finally, Alexander Labrunerie & CO. Inc. acquired a new stake in MP Materials in the first quarter worth $1,034,000. 52.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MP has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of MP Materials in a research note on Tuesday, May 12th. Canaccord Genuity Group set a $82.00 price objective on MP Materials in a research note on Friday, May 8th. William Blair restated an “outperform” rating on shares of MP Materials in a research note on Wednesday, March 4th. Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Barclays initiated coverage on MP Materials in a research note on Thursday, May 21st. They set an “overweight” rating and a $69.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $80.14.

MP Materials Company Profile

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.