MP Materials (NYSE:MP) COO Michael Stuart Rosenthal Buys 27,000 Shares of Stock

MP Materials Corp. (NYSE:MP) COO Michael Rosenthal bought 27,000 shares of the firm’s stock in a transaction on Tuesday, November 10th. The stock was bought at an average cost of $36.61 per share, for a total transaction of $988,470.00. Following the transaction, the chief operating officer directly owned 1,360,673 shares of the company’s stock, valued at $49,814,238.53. The trade was a 2.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, November 11th, Michael Rosenthal bought 5,000 shares of MP Materials stock. The shares were bought at an average cost of $37.30 per share, with a total value of $186,500.00.

MP Materials Price Performance

Shares of MP opened at $37.49 on Friday. MP Materials Corp. has a 1-year low of $31.90 and a 1-year high of $76.80. The stock has a market cap of $6.68 billion, a PE ratio of -170.39 and a beta of 2.05. The firm has a 50-day simple moving average of $44.22 and a two-hundred day simple moving average of $53.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.75 and a quick ratio of 6.04.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating 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 business had revenue of $147.66 million for the quarter, compared to the consensus estimate of $117.37 million. During the same period in the previous year, the firm earned ($0.10) EPS. The business’s revenue was up 175.7% on a year-over-year basis. As a group, analysts forecast that MP Materials Corp. will post -0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Robert W. Baird cut their target price on MP Materials from $80.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, October 1st. Weiss Ratings restated a “sell (d-)” rating on shares of MP Materials in a research report on Thursday, October 15th. JPMorgan Chase & Co. lowered their price target on MP Materials from $75.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, July 29th. Freedom Broker raised MP Materials from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Tuesday. Finally, Wall Street Zen upgraded MP Materials from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.50.

MP Materials News Roundup

Here’s some of the latest news about MP:

• Positive Sentiment: Recent third-quarter results beat estimates, supported by higher neodymium-praseodymium sales and pricing. The company has also reported progress on customer agreements with GM, Apple and U.S. defense customers. MP Gains 2% After Q3 Earnings Beat
• Neutral Sentiment: Analyst opinion is mixed: Freedom Broker upgraded the shares, while other coverage included a downgrade and Deutsche Bank lowered its price target to $40 from $53 but kept a Buy rating. Freedom Broker Upgrade Deutsche Bank Price Target
• Negative Sentiment: Commentary cautions that MP’s valuation may already reflect much of its growth prospects, while rising costs could weigh on profitability. Its shares have also underperformed over the year. MP Materials Q3 Beat and Valuation

Institutional Investors Weigh In On MP Materials

Several large investors have recently added to or reduced their stakes in MP. State Street Corp lifted its holdings in MP Materials by 12.1% during the 3rd quarter. State Street Corp now owns 8,717,104 shares of the company’s stock worth $412,232,000 after buying an additional 943,358 shares in the last quarter. Voya Investment Management LLC boosted its position in MP Materials by 72.4% in the 3rd quarter. Voya Investment Management LLC now owns 1,482,169 shares of the company’s stock valued at $70,092,000 after buying an additional 622,641 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of MP Materials in the second quarter worth $65,230,000. Principal Financial Group Inc. grew its stake in shares of MP Materials by 32.4% in the first quarter. Principal Financial Group Inc. now owns 919,083 shares of the company’s stock worth $44,355,000 after acquiring an additional 225,009 shares in the last quarter. Finally, Alps Advisors Inc. grew its stake in shares of MP Materials by 26.0% in the third quarter. Alps Advisors Inc. now owns 763,110 shares of the company’s stock worth $36,087,000 after acquiring an additional 157,272 shares in the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.

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.