MP Materials (NYSE:MP) COO Michael Stuart Rosenthal Purchases 17,000 Shares of Stock

MP Materials Corp. (NYSE:MP) COO Michael Stuart Rosenthal purchased 17,000 shares of MP Materials stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $56.62 per share, for a total transaction of $962,540.00. Following the completion of the purchase, the chief operating officer directly owned 1,333,673 shares in the company, valued at approximately $75,512,565.26. This trade represents a 1.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

MP Materials Price Performance

MP Materials stock opened at $56.29 on Thursday. The company’s 50 day simple moving average is $58.62 and its 200-day simple moving average is $59.14. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of -134.01 and a beta of 1.90. MP Materials Corp. has a 1 year low of $18.64 and a 1 year 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 released its quarterly earnings results 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. The business had revenue of $90.65 million for the quarter, compared to the consensus estimate of $74.82 million. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The business’s revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) EPS. As a group, equities research analysts expect that MP Materials Corp. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On MP Materials

A number of large investors have recently made changes to their positions in MP. Campbell & CO Investment Adviser LLC acquired a new position in shares of MP Materials during the 3rd quarter worth approximately $670,000. Private Advisory Group LLC bought a new stake in shares of MP Materials during the 4th quarter valued at $9,702,000. Concurrent Investment Advisors LLC bought a new stake in shares of MP Materials during the 3rd quarter valued at $550,000. Pier 88 Investment Partners LLC bought a new stake in shares of MP Materials during the 3rd quarter valued at $1,089,000. Finally, Polianta Ltd bought a new stake in shares of MP Materials during the 4th quarter worth $1,227,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of MP Materials in a report on Tuesday, April 21st. Wedbush upped their target price on shares of MP Materials from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Canaccord Genuity Group set a $82.00 price target on shares of MP Materials in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of MP Materials in a research report on Tuesday, May 12th. Finally, William Blair reiterated an “outperform” rating on shares of MP Materials in a research report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $81.00.

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.