Michael Stuart Rosenthal Sells 150,000 Shares of MP Materials (NYSE:MP) Stock

Key Points

• MP Materials COO Michael Stuart Rosenthal sold 150,000 shares at an average price of $72.02, totaling approximately $10.8 million, reducing his stake in the company by 10.46%.
• The company's stock price recently saw a decline, trading at $71.19, with a market cap of $12.61 billion and a P/E ratio of -113.00.
• MP Materials reported a quarterly revenue increase of 83.6% year-over-year, beating estimates by $12.55 million, despite a negative EPS of ($0.13).

MP Materials Corp. (NYSE:MP - Get Free Report) COO Michael Stuart Rosenthal sold 150,000 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $72.02, for a total value of $10,803,000.00. Following the completion of the transaction, the chief operating officer owned 1,284,409 shares of the company's stock, valued at $92,503,136.18. This trade represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

MP Materials Trading Down 3.1%

MP traded down $2.31 during trading on Friday, hitting $71.19. The company's stock had a trading volume of 6,903,800 shares, compared to its average volume of 12,873,314. The firm's 50 day moving average price is $56.95 and its 200-day moving average price is $35.88. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12. The stock has a market cap of $12.61 billion, a PE ratio of -113.00 and a beta of 2.30. MP Materials Corp. has a twelve month low of $12.39 and a twelve month high of $82.50.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company had revenue of $57.39 million during the quarter, compared to analysts' expectations of $44.84 million. During the same period in the previous year, the company earned ($0.17) EPS. The business's quarterly revenue was up 83.6% compared to the same quarter last year. On average, analysts expect that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

MP has been the subject of several research reports. Cowen reissued a "buy" rating on shares of MP Materials in a research note on Friday, August 8th. Cfra Research raised shares of MP Materials to a "moderate buy" rating in a research note on Monday, August 11th. Morgan Stanley set a $65.00 price objective on shares of MP Materials and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of MP Materials from $20.00 to $69.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen raised shares of MP Materials from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.63.

Institutional Trading of MP Materials

A number of institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans boosted its position in MP Materials by 6.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 94,251 shares of the company's stock worth $3,136,000 after purchasing an additional 5,541 shares during the period. Newbridge Financial Services Group Inc. boosted its position in MP Materials by 40.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,400 shares of the company's stock valued at $47,000 after buying an additional 400 shares during the last quarter. Marex Group plc purchased a new position in MP Materials in the 2nd quarter valued at about $729,000. MRP Capital Investments LLC boosted its position in MP Materials by 44.2% in the 2nd quarter. MRP Capital Investments LLC now owns 41,125 shares of the company's stock valued at $1,368,000 after buying an additional 12,600 shares during the last quarter. Finally, State of Wyoming purchased a new position in MP Materials in the 2nd quarter valued at about $54,000. 52.55% of the stock is owned by hedge funds and other institutional investors.

About MP Materials

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It 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.