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

MP Materials Corp. (NYSE:MP) COO Michael Stuart Rosenthal acquired 10,000 shares of MP Materials stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $54.30 per share, for a total transaction of $543,000.00. Following the transaction, the chief operating officer directly owned 136,622 shares in the company, valued at $7,418,574.60. The trade was a 7.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available 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 stock was bought at an average price of $56.62 per share, for a total transaction of $962,540.00.

MP Materials Trading Down 1.7%

NYSE MP opened at $53.40 on Thursday. The business’s 50-day moving average price is $61.11 and its two-hundred day moving average price is $59.68. MP Materials Corp. has a 12 month low of $23.26 and a 12 month high of $100.25. The firm has a market capitalization of $9.51 billion, a PE ratio of -127.15 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 (NYSE:MP) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $90.65 million for the quarter, compared to the consensus estimate of $74.82 million. During the same period in the previous year, the business earned ($0.12) EPS. The firm’s revenue was up 49.1% compared to the same quarter last year. On average, analysts expect that MP Materials Corp. will post -0.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley upped their target price on MP Materials from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Needham & Company LLC assumed coverage on MP Materials in a report on Monday, June 1st. They issued a “buy” rating and a $81.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of MP Materials in a report on Wednesday, March 4th. Canaccord Genuity Group set a $82.00 target price on MP Materials in a report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MP Materials in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, MP Materials has an average rating of “Buy” and a consensus target price of $80.14.

Hedge Funds Weigh In On MP Materials

A number of large investors have recently made changes to their positions in the stock. Costello Asset Management INC boosted its holdings in shares of MP Materials by 15.0% in the fourth quarter. Costello Asset Management INC now owns 1,300 shares of the company’s stock worth $66,000 after acquiring an additional 170 shares during the period. Composition Wealth LLC grew its stake in shares of MP Materials by 0.9% during the fourth quarter. Composition Wealth LLC now owns 18,334 shares of the company’s stock valued at $926,000 after buying an additional 172 shares during the last quarter. ARS Investment Partners LLC grew its stake in shares of MP Materials by 1.0% during the fourth quarter. ARS Investment Partners LLC now owns 19,980 shares of the company’s stock valued at $1,009,000 after buying an additional 200 shares during the last quarter. Cresset Asset Management LLC grew its stake in shares of MP Materials by 1.0% during the second quarter. Cresset Asset Management LLC now owns 21,444 shares of the company’s stock valued at $713,000 after buying an additional 204 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in shares of MP Materials by 1.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 12,232 shares of the company’s stock worth $618,000 after purchasing an additional 212 shares during the last quarter. 52.55% of the stock is 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.