Key Points
- MP Materials COO Michael Stuart Rosenthal bought 17,000 shares on May 20 at an average price of $56.62, a transaction worth about $962,540. After the purchase, he owned 1,333,673 shares valued at roughly $75.5 million.
- The stock was up 2.5% and opened at $56.29, while the company’s shares have traded between a 52-week low of $18.64 and a high of $100.25.
- MP Materials recently reported better-than-expected quarterly results, posting EPS of $0.03 versus estimates for a loss and revenue of $90.65 million, up 49.1% year over year. Analysts remain broadly bullish, with a consensus Buy rating and an average price target of $81.00.
MP Materials Corp. (NYSE:MP - Get Free Report) COO Michael Stuart Rosenthal bought 17,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $56.62 per share, with a total value of $962,540.00. Following the purchase, the chief operating officer directly owned 1,333,673 shares of the company's stock, valued at $75,512,565.26. This trade represents a 1.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.
MP Materials Trading Up 2.5%
NYSE MP opened at $56.29 on Thursday. The business has a 50 day simple moving average of $58.62 and a 200 day simple moving average of $59.14. MP Materials Corp. has a one year low of $18.64 and a one year high of $100.25. The stock has a market capitalization of $10.02 billion, a P/E ratio of -134.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.18 and a quick ratio of 6.58.
MP Materials (NYSE:MP - Get Free Report) last announced 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 return on equity of 2.27% and a negative net margin of 28.00%.The firm had revenue of $90.65 million during the quarter, compared to analysts' expectations of $74.82 million. During the same quarter last year, the firm posted ($0.12) earnings per share. The company's revenue for the quarter was up 49.1% compared to the same quarter last year. Research analysts expect that MP Materials Corp. will post 0.1 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. EMC Capital Management bought a new position in MP Materials during the 4th quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of MP Materials in the 4th quarter worth approximately $26,000. REAP Financial Group LLC bought a new position in shares of MP Materials in the 4th quarter worth approximately $26,000. Financial Consulate Inc. raised its position in shares of MP Materials by 555.3% in the 4th quarter. Financial Consulate Inc. now owns 557 shares of the company's stock worth $28,000 after acquiring an additional 472 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in MP Materials during the 4th quarter valued at approximately $28,000. Institutional investors own 52.55% of the company's stock.
Analysts Set New Price Targets
MP has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of MP Materials in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of MP Materials in a research note on Tuesday, May 12th. William Blair reiterated an "outperform" rating on shares of MP Materials in a research note on Wednesday, March 4th. DA Davidson restated a "buy" rating and set a $82.00 target price on shares of MP Materials in a research report on Wednesday. Finally, Morgan Stanley boosted their target price on MP Materials from $62.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $81.00.
Get Our Latest Research Report on MP Materials
About MP Materials
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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.
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