Michael Stuart Rosenthal Buys 10,000 Shares of MP Materials (NYSE:MP) Stock

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

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

• On Wednesday, May 20th, Michael Stuart Rosenthal purchased 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 Price Performance

Shares of NYSE:MP traded down $0.54 during 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 company has a fifty day moving average price of $60.96 and a two-hundred day moving average price of $59.70. The company has a market cap of $9.57 billion, a PE ratio of -128.46 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. MP Materials Corp. has a 12-month low of $23.26 and a 12-month high of $100.25.

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

Institutional Trading of MP Materials

A number of hedge funds have recently added to or reduced their stakes in MP. Norges Bank acquired a new stake in MP Materials in the 4th quarter worth about $82,531,000. Reaves W H & Co. Inc. boosted its stake in MP Materials by 168.4% in the 3rd quarter. Reaves W H & Co. Inc. now owns 2,589,908 shares of the company’s stock worth $173,705,000 after buying an additional 1,624,908 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in MP Materials by 76.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,921,542 shares of the company’s stock worth $97,200,000 after buying an additional 1,264,243 shares during the last quarter. Van ECK Associates Corp boosted its stake in MP Materials by 71.6% in the 4th quarter. Van ECK Associates Corp now owns 2,834,914 shares of the company’s stock worth $143,220,000 after buying an additional 1,183,307 shares during the last quarter. Finally, Hancock Prospecting Pty Ltd boosted its stake in MP Materials by 7.2% in the 3rd quarter. Hancock Prospecting Pty Ltd now owns 14,861,212 shares of the company’s stock worth $996,741,000 after buying an additional 1,000,000 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MP. Wedbush raised their price target on MP Materials from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Canaccord Genuity Group set a $82.00 price target on MP Materials in a research report on Friday, May 8th. Needham & Company LLC initiated coverage on MP Materials in a research report on Monday, June 1st. They issued a “buy” rating and a $81.00 price target for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of MP Materials in a research note on Tuesday, May 12th. Finally, Morgan Stanley upped their target price on MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $80.14.

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.