Key Points
- MP Materials COO Michael Stuart Rosenthal bought 10,000 shares on June 9 at an average price of $54.30, a $543,000 purchase. After the trade, he held 136,622 shares worth about $7.42 million.
- Rosenthal also purchased 17,000 shares on May 20 at $56.62 each, showing continued insider buying in the company.
- MP Materials recently beat quarterly earnings and revenue expectations, while Wall Street analysts remain broadly bullish with a consensus Buy rating and an average price target of $80.14.
MP Materials Corp. (NYSE:MP - Get Free Report) COO Michael Stuart Rosenthal acquired 10,000 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $54.30 per share, for a total transaction of $543,000.00. Following the completion of the transaction, the chief operating officer owned 136,622 shares in the company, valued at approximately $7,418,574.60. This represents a 7.90% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Michael Stuart Rosenthal also recently made the following trade(s):
- On Wednesday, May 20th, Michael Stuart Rosenthal acquired 17,000 shares of MP Materials stock. The shares were purchased at an average cost of $56.62 per share, for a total transaction of $962,540.00.
MP Materials Stock Performance
Shares of MP opened at $53.40 on Thursday. The company has a quick ratio of 6.58, a current ratio of 7.18 and a debt-to-equity ratio of 0.47. The business's 50 day moving average price is $61.11 and its 200-day moving average price is $59.68. MP Materials Corp. has a 52 week low of $23.26 and a 52 week high of $100.25. The stock has a market cap of $9.51 billion, a P/E ratio of -127.15 and a beta of 1.86.
MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $74.82 million. During the same period in the previous year, the firm posted ($0.12) EPS. The business's revenue for the quarter was up 49.1% compared to the same quarter last year. Equities research analysts anticipate that MP Materials Corp. will post -0.04 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on MP. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a research note on Sunday, March 8th. Morgan Stanley raised their price objective on MP Materials from $62.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Weiss Ratings restated a "sell (d-)" rating on shares of MP Materials in a research report on Tuesday, April 21st. Wedbush raised their price objective on MP Materials from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Finally, Barclays started coverage on MP Materials in a research report on Thursday, May 21st. They set an "overweight" rating and a $69.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $80.14.
Read Our Latest Stock Report on MP Materials
Institutional Trading of MP Materials
Several institutional investors have recently added to or reduced their stakes in MP. Private Advisory Group LLC bought a new position in MP Materials in the fourth quarter worth approximately $9,702,000. Polianta Ltd purchased a new position in MP Materials in the fourth quarter worth $1,227,000. Dorsey Wright & Associates grew its holdings in MP Materials by 84.1% in 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 during the last quarter. South Dakota Investment Council purchased a new stake in shares of MP Materials during the third quarter valued at $1,617,000. Finally, Intech Investment Management LLC purchased a new stake in shares of MP Materials during the third quarter valued at $3,505,000. Institutional investors own 52.55% of the company's stock.
About MP Materials
(
Get Free Report)
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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