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

MP Materials Corp. (NYSE:MP – Get Rating) COO Michael Stuart Rosenthal purchased 10,000 shares of the company’s stock in a transaction on Friday, May 19th. The stock was acquired at an average cost of $21.21 per share, for a total transaction of $212,100.00. Following the completion of the transaction, the chief operating officer now owns 24,476 shares in the company, valued at $519,135.96. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

MP Materials Price Performance

Shares of MP stock opened at $21.27 on Monday. The stock’s fifty day simple moving average is $24.81 and its 200 day simple moving average is $28.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 13.50 and a quick ratio of 12.84. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 2.04 and a beta of 2.69. MP Materials Corp. has a one year low of $20.21 and a one year high of $42.84.

MP Materials (NYSE:MP – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.11 by $0.28. The business had revenue of $93.25 million for the quarter, compared to analyst estimates of $82.53 million. MP Materials had a return on equity of 20.17% and a net margin of 52.72%. On average, analysts expect that MP Materials Corp. will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MP has been the topic of several recent analyst reports. TheStreet downgraded MP Materials from a “c-” rating to a “d+” rating in a research report on Thursday. DA Davidson dropped their price target on MP Materials from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Morgan Stanley dropped their price target on MP Materials from $45.50 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, March 16th. Deutsche Bank Aktiengesellschaft dropped their price target on MP Materials from $30.00 to $26.00 in a research report on Monday, May 8th. Finally, Canaccord Genuity Group boosted their price objective on MP Materials from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, February 24th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Institutional Trading of MP Materials

Institutional investors have recently bought and sold shares of the stock. Verition Fund Management LLC boosted its stake in MP Materials by 59.6% in the 3rd quarter. Verition Fund Management LLC now owns 35,344 shares of the company’s stock valued at $965,000 after buying an additional 13,192 shares in the last quarter. Trexquant Investment LP acquired a new position in MP Materials in the third quarter worth $1,838,000. Pinnacle Associates Ltd. boosted its stake in MP Materials by 14.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 17,875 shares of the company’s stock worth $434,000 after purchasing an additional 2,305 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in MP Materials by 36.8% in the third quarter. Glenmede Trust Co. NA now owns 24,802 shares of the company’s stock worth $677,000 after purchasing an additional 6,675 shares in the last quarter. Finally, Lee Capital Holdings LLC boosted its stake in MP Materials by 50.0% in the third quarter. Lee Capital Holdings LLC now owns 15,000 shares of the company’s stock worth $410,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 62.84% of the company’s stock.

About MP Materials

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MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.