MP Materials (NYSE:MP) Stock: Insider Michael Stuart Rosenthal Buys 5,000 Shares

MP Materials Corp. (NYSE:MP) COO Michael Rosenthal purchased 5,000 shares of MP Materials stock in a transaction on Wednesday, November 11th. The stock was bought at an average cost of $37.30 per share, for a total transaction of $186,500.00. Following the transaction, the chief operating officer directly owned 1,365,673 shares in the company, valued at $50,939,602.90. This represents a 0.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, November 10th, Michael Rosenthal acquired 27,000 shares of MP Materials stock. The stock was bought at an average price of $36.61 per share, with a total value of $988,470.00.

MP Materials Stock Up 3.3%

Shares of MP traded up $1.25 during midday trading on Friday, hitting $38.70. The company had a trading volume of 7,891,761 shares, compared to its average volume of 5,989,354. MP Materials Corp. has a 1 year low of $31.90 and a 1 year high of $76.80. The firm has a market capitalization of $6.90 billion, a P/E ratio of -175.92 and a beta of 2.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.04 and a current ratio of 6.75. The company’s 50-day simple moving average is $43.92 and its 200-day simple moving average is $53.71.

MP Materials (NYSE:MP) last released its earnings results on Thursday, November 5th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. MP Materials had a negative net margin of 9.90% and a negative return on equity of 0.05%. The firm had revenue of $147.66 million for the quarter, compared to analyst estimates of $117.37 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The business’s quarterly revenue was up 175.7% compared to the same quarter last year. As a group, sell-side analysts expect that MP Materials Corp. will post -0.21 EPS for the current year.

Trending Headlines about MP Materials

Here are a few of the latest headlines about MP:

• Positive Sentiment: Executives and a director disclosed more than $3.35 million in combined stock purchases, including the COO’s additional 5,000-share purchase. Insider buying may signal confidence in the company, following its start of saleable magnet shipments to General Motors. MP Materials insider purchases
• Positive Sentiment: Call-option trading was unusually active, with volume about 64% above its typical level, suggesting increased speculative interest in potential gains.
• Negative Sentiment: Commentary cautions that a high valuation and rising costs could constrain the investment case, despite the earnings beat and commercial progress.

Wall Street Analysts Forecast Growth

Several research firms have commented on MP. Robert W. Baird lowered their price target on shares of MP Materials from $80.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, October 1st. Jefferies Financial Group restated a “buy” rating on shares of MP Materials in a report on Tuesday, September 8th. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a report on Thursday, October 15th. JPMorgan Chase & Co. decreased their price objective on shares of MP Materials from $75.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, July 29th. Finally, Morgan Stanley lowered their target price on shares of MP Materials from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.50.

Hedge Funds Weigh In On MP Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MP. Toth Financial Advisory Corp raised its holdings in MP Materials by 73.3% during the second quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares in the last quarter. GW&K Investment Management LLC purchased a new stake in shares of MP Materials during the 3rd quarter worth approximately $30,000. Mather Group LLC. boosted its holdings in shares of MP Materials by 390.6% in the 3rd quarter. Mather Group LLC. now owns 682 shares of the company’s stock valued at $32,000 after buying an additional 543 shares in the last quarter. Markowski Investments acquired a new position in shares of MP Materials in the 2nd quarter valued at $43,000. Finally, MADDEN SECURITIES Corp acquired a new position in shares of MP Materials in the 3rd quarter valued at $46,000. 52.55% of the stock is owned by institutional investors and hedge funds.

About MP Materials

MP Materials operates the Mountain Pass rare earth mine and processing facility in California. The site is a major North American source of rare earth materials, which are used in products such as electric vehicles, wind turbines, electronics and defense systems. The company mines and processes rare earth ore into concentrate and separated products, including neodymium-praseodymium (NdPr), a key input for high-strength permanent magnets. MP Materials is also developing domestic magnet manufacturing capabilities to extend its business further along the supply chain.