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

Key Points

• Director Randall Weisenburger bought 55,000 MP Materials shares at $36 each, a $1.98 million purchase that increased his position by 36.45% to 205,899 shares.
• MP Materials beat third-quarter estimates, reporting EPS of $0.04 versus expectations of a $0.02 loss and revenue of $147.66 million versus $117.37 million expected; revenue rose 175.7% year over year.
• Analyst sentiment is mixed but averages to a “Moderate Buy”, with a consensus price target of $69.50; recent firms have lowered targets even while maintaining Buy or Overweight ratings.

MP Materials Corp. (NYSE:MP - Get Free Report) Director Randall Weisenburger bought 55,000 shares of the company's stock in a transaction dated Tuesday, November 10th. The stock was bought at an average cost of $36.00 per share, with a total value of $1,980,000.00. Following the transaction, the director directly owned 205,899 shares in the company, valued at approximately $7,412,364. The trade was a 36.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

MP Materials Trading Up 1.0%

NYSE:MP opened at $36.81 on Thursday. The company has a quick ratio of 6.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.48. The business's 50 day moving average is $44.57 and its two-hundred day moving average is $53.98. MP Materials Corp. has a 52 week low of $31.90 and a 52 week high of $76.80. The company has a market cap of $6.56 billion, a PE ratio of -167.32 and a beta of 2.05.

MP Materials (NYSE:MP - Get Free Report) last issued 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 company had revenue of $147.66 million during the quarter, compared to analyst estimates of $117.37 million. MP Materials had a negative return on equity of 0.05% and a negative net margin of 9.90%. The business's revenue was up 175.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) EPS. On average, analysts predict that MP Materials Corp. will post -0.21 EPS for the current year.

Institutional Trading of MP Materials

Several institutional investors and hedge funds have recently bought and sold shares of MP. Toth Financial Advisory Corp boosted its stake in MP Materials by 73.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 520 shares of the company's stock worth $29,000 after purchasing an additional 220 shares during the period. Wedmont Private Capital lifted its stake in shares of MP Materials by 2.0% in the 3rd quarter. Wedmont Private Capital now owns 11,866 shares of the company's stock valued at $547,000 after purchasing an additional 234 shares during the last quarter. Allworth Financial LP grew its holdings in MP Materials by 4.5% during the second quarter. Allworth Financial LP now owns 5,679 shares of the company's stock valued at $318,000 after purchasing an additional 243 shares during the last quarter. NFSG Corp boosted its holdings in MP Materials by 5.0% during the first quarter. NFSG Corp now owns 5,387 shares of the company's stock valued at $260,000 after acquiring an additional 255 shares during the period. Finally, Putney Financial Group LLC lifted its holdings in shares of MP Materials by 4.4% during the third quarter. Putney Financial Group LLC now owns 6,123 shares of the company's stock worth $290,000 after buying an additional 257 shares during the last quarter. Institutional investors and hedge funds own 52.55% of the company's stock.

Analyst Ratings Changes

MP has been the subject of several analyst reports. DA Davidson reiterated a "buy" rating and set a $82.00 price objective on shares of MP Materials in a research report on Monday, August 24th. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, November 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of MP Materials in a research note on Thursday, October 15th. Canaccord Genuity Group lowered their price target on MP Materials from $82.00 to $70.00 and set a "buy" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. cut their price objective on shares of MP Materials from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $69.50.

MP Materials News Roundup

Investors following MP have been watching these news items:

• 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
• Neutral Sentiment: Despite the earnings beat and contract progress with General Motors, Apple, and U.S. defense customers, one analysis noted that the share price had weakened recently, raising questions about how much future growth is already reflected in the valuation. Yahoo Finance analysis
• Negative Sentiment: Analyst views remain divided: a report cited a downgrade, and Deutsche Bank cut its price target to $40 from $53 while keeping a Buy rating. Analyst downgrade report Deutsche Bank price target

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.