MP Materials (NYSE:MP) Director Purchases $1,980,000.00 in Stock

MP Materials Corp. (NYSE:MP) Director Randall Weisenburger bought 55,000 shares of the stock in a transaction dated Tuesday, November 10th. The stock was purchased at an average cost of $36.00 per share, for a total transaction of $1,980,000.00. Following the acquisition, the director owned 205,899 shares in the company, valued at $7,412,364. The trade was a 36.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

MP Materials Stock Performance

NYSE MP opened at $36.81 on Thursday. MP Materials Corp. has a 1-year low of $31.90 and a 1-year high of $76.80. The company has a 50 day moving average of $44.57 and a 200-day moving average of $53.98. The company has a current ratio of 6.75, a quick ratio of 6.04 and a debt-to-equity ratio of 0.48. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of -167.32 and a beta of 2.05.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. MP Materials had a negative return on equity of 0.05% and a negative net margin of 9.90%. The business 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 company earned ($0.10) EPS. MP Materials’s revenue for the quarter was up 175.7% on a year-over-year basis. On average, equities analysts forecast that MP Materials Corp. will post -0.21 earnings per share for the current fiscal year.

Recent MP Materials Headlines

These are some of the MP headlines that stood out recently:

• Positive Sentiment: MP reported a third-quarter earnings and revenue beat: EPS was $0.04 versus consensus of a $0.02 loss, and revenue of $147.66 million exceeded the $117.37 million estimate. Higher NdPr sales and pricing contributed to the results. Zacks earnings analysis
• Positive Sentiment: Freedom Broker upgraded MP from “hold” to “buy” and set a $51 price target, citing valuation and anticipated manufacturing cost savings. Freedom Broker upgrade
• Negative Sentiment: Costs and a steep valuation may limit the appeal of the earnings beat. MP also faces possible congressional review of the government’s $400 million equity investment and related support, creating uncertainty around federal involvement. Zacks analysis Federal stake review

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Oak Thistle LLC acquired a new position in MP Materials in the second quarter valued at approximately $1,543,000. Amundi boosted its stake in MP Materials by 260.2% in the first quarter. Amundi now owns 385,001 shares of the company’s stock valued at $18,580,000 after acquiring an additional 278,126 shares during the last quarter. NewEdge Advisors LLC boosted its stake in MP Materials by 135.8% in the second quarter. NewEdge Advisors LLC now owns 39,866 shares of the company’s stock valued at $2,233,000 after acquiring an additional 22,958 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in MP Materials by 31.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 463,306 shares of the company’s stock worth $21,910,000 after acquiring an additional 110,437 shares during the period. Finally, State Street Corp grew its holdings in MP Materials by 5.1% during the 2nd quarter. State Street Corp now owns 7,773,746 shares of the company’s stock worth $435,408,000 after acquiring an additional 376,519 shares during the period. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MP has been the topic of several research reports. Zacks Research downgraded shares of MP Materials from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 26th. DA Davidson reissued a “buy” rating and set a $82.00 price target on shares of MP Materials in a research note on Monday, August 24th. Barclays lowered their price target on shares of MP Materials from $65.00 to $54.00 and set an “overweight” rating for the company in a report on Monday. Freedom Broker upgraded shares of MP Materials from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Tuesday. Finally, Needham & Company LLC dropped their price objective on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.50.

MP Materials Company Profile

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.