MP Materials (NYSE:MP) Director Randall Weisenburger Acquires 55,000 Shares of Company Stock

MP Materials Corp. (NYSE:MP) Director Randall Weisenburger purchased 55,000 shares of the firm’s 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 of the company’s stock, valued at approximately $7,412,364. This trade represents a 36.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

MP Materials Trading Up 2.1%

Shares of MP stock opened at $37.49 on Friday. The company has a market capitalization of $6.68 billion, a PE ratio of -170.39 and a beta of 2.05. MP Materials Corp. has a 52-week low of $31.90 and a 52-week high of $76.80. The business’s fifty day moving average is $44.22 and its 200 day moving average is $53.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.04 and a current ratio of 6.75.

MP Materials (NYSE:MP) last posted its earnings results on Thursday, November 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. The business had revenue of $147.66 million during the quarter, compared to analysts’ expectations of $117.37 million. MP Materials had a negative return on equity of 0.05% and a negative net margin of 9.90%. The firm’s revenue was up 175.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) earnings per share. On average, equities research analysts anticipate that MP Materials Corp. will post -0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On MP Materials

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Toth Financial Advisory Corp raised its holdings in shares of MP Materials by 73.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company’s stock valued at $29,000 after buying an additional 220 shares in the last quarter. GW&K Investment Management LLC purchased a new stake in MP Materials in the third quarter worth approximately $30,000. Mather Group LLC. boosted its stake in MP Materials by 390.6% in the third quarter. Mather Group LLC. now owns 682 shares of the company’s stock worth $32,000 after buying an additional 543 shares in the last quarter. Markowski Investments purchased a new stake in MP Materials in the second quarter worth approximately $43,000. Finally, MADDEN SECURITIES Corp bought a new position in MP Materials during the third quarter valued at approximately $46,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

More MP Materials News

Investors following MP have been watching these news items:

• Positive Sentiment: Three insiders—including the CFO, COO and a director—bought more than $3.35 million of MP shares. The purchases may signal confidence, and came after the company began shipping saleable magnets to General Motors. MP Materials Stock Rises After Insiders Buy $3.35 Million
• Positive Sentiment: Recent third-quarter results beat estimates, supported by higher neodymium-praseodymium sales and pricing. The company has also reported progress on customer agreements with GM, Apple and U.S. defense customers. MP Gains 2% After Q3 Earnings Beat
• Negative Sentiment: Commentary cautions that MP’s valuation may already reflect much of its growth prospects, while rising costs could weigh on profitability. Its shares have also underperformed over the year. MP Materials Q3 Beat and Valuation

Wall Street Analyst Weigh In

MP has been the subject of several recent analyst reports. Canaccord Genuity Group cut their price objective on MP Materials from $82.00 to $70.00 and set a “buy” rating for the company in a report on Monday. Robert W. Baird decreased their price objective on shares of MP Materials from $80.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, October 1st. Zacks Research downgraded shares of MP Materials from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 26th. Morgan Stanley dropped their target price on shares of MP Materials from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, October 7th. Finally, Needham & Company LLC cut their price target on shares of MP Materials from $81.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

About MP Materials

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.