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Elliot Dean Hoops, General Counsel and Secretary at MP Materials Corp (NYSE:MP), sold 5,523 shares of common stock on June 26, 2025, at a price of $36.37, for a total of $200,871. The sale comes amid significant stock price volatility, with MP Materials showing a remarkable 158% return over the past year. According to InvestingPro analysis, the stock is currently trading above its Fair Value.
Following the transaction, Hoops directly owns 69,749 shares of MP Materials Corp. common stock. Additionally, Hoops indirectly owns 12,675 shares through the Hoops Family Trust and 1,000 shares by spouse.
The sale was executed under a Rule 10b5-1 trading plan adopted on February 26, 2025.
In other recent news, MP Materials Corp. announced the results of its Annual Meeting of Stockholders, where three Class II directors were elected, executive compensation was approved, and KPMG LLP was ratified as the independent auditor for 2025. In a significant development, the Trump administration is reportedly considering using the Defense Production Act to fund rare earth projects, which could benefit MP Materials as the sole domestic producer in the U.S. Morgan Stanley (NYSE:MS) upgraded MP Materials’ stock rating from Equalweight to Overweight, raising the price target from $23 to $34, citing the company’s strategic positioning amid global supply chain concerns. DA Davidson maintained its Buy rating on the stock with a $32 price target, highlighting the company’s record production of neodymium-praseodymium oxide and its decision to halt Stage I concentrate shipments to China. The firm emphasized MP Materials’ strong balance sheet and strategic moves to enhance its supply chain and production capabilities. Deputy Defense Secretary Steve Feinberg is reportedly working to secure funding for MP Materials, which has previously received Defense Department support. The company’s recent advancements in Stage III operations and commercial-grade shipments mark a milestone in its production capabilities. These developments underscore MP Materials’ growing importance in the rare earths sector amid geopolitical and trade tensions.
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