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

MP Materials Corp. (NYSE:MP) COO Michael Stuart Rosenthal bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $54.30 per share, with a total value of $543,000.00. Following the purchase, 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 position. The acquisition was disclosed in a legal 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 bought 17,000 shares of MP Materials stock. The stock was purchased at an average cost of $56.62 per share, with a total value of $962,540.00.

MP Materials Trading Up 7.1%

Shares of MP stock opened at $57.26 on Friday. MP Materials Corp. has a twelve month low of $25.17 and a twelve month high of $100.25. The firm has a 50-day moving average price of $61.29 and a 200 day moving average price of $59.69. The company has a current ratio of 7.18, a quick ratio of 6.58 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $10.19 billion, a price-to-earnings ratio of -136.32 and a beta of 1.86.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. MP Materials had a negative net margin of 28.00% and a negative return on equity of 2.27%. The company had revenue of $90.65 million during the quarter, compared to the consensus estimate of $74.82 million. During the same quarter in the prior year, the company posted ($0.12) EPS. The company’s quarterly revenue was up 49.1% compared to the same quarter last year. Research analysts forecast that MP Materials Corp. will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of MP Materials

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Private Advisory Group LLC acquired a new position in shares of MP Materials during the fourth quarter worth $9,702,000. Polianta Ltd acquired a new position in shares of MP Materials during the fourth quarter worth $1,227,000. Dorsey Wright & Associates lifted its position in shares of MP Materials by 84.1% during the third quarter. Dorsey Wright & Associates now owns 118,252 shares of the company’s stock worth $7,931,000 after purchasing an additional 54,031 shares in the last quarter. South Dakota Investment Council acquired a new position in shares of MP Materials during the third quarter worth $1,617,000. Finally, Intech Investment Management LLC acquired a new position in shares of MP Materials during the third quarter worth $3,505,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Needham & Company LLC assumed coverage on shares of MP Materials in a research note on Monday, June 1st. They set a “buy” rating and a $81.00 price objective for the company. Canaccord Genuity Group set a $82.00 price objective on shares of MP Materials in a research note on Friday, May 8th. DA Davidson reaffirmed a “buy” rating and set a $82.00 price objective on shares of MP Materials in a research note on Friday, June 5th. Barclays assumed coverage on shares of MP Materials in a research note on Thursday, May 21st. They set an “overweight” rating and a $69.00 price objective for the company. Finally, Wall Street Zen raised shares of MP Materials from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Three 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price 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.