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Elliot Dean Hoops, General Counsel and Secretary of MP Materials Corp (NYSE:MP), sold 6,337 shares of common stock on August 1, 2025. The sales, executed under a pre-arranged 10b5-1 trading plan, fetched prices ranging from $60.22 to $61.62, resulting in a total transaction value of approximately $382,304. The transaction comes as MP’s stock trades near its 52-week high of $65.84, having delivered an impressive 308% return year-to-date.
The sales were executed in three separate transactions. The first involved 5,419 shares sold at a weighted average price of $60.22. The second transaction saw 700 shares sold at a weighted average price of $60.77. The final transaction involved 218 shares sold at a weighted average price of $61.62.
Following the transactions, Hoops Family Trust indirectly holds 918 and 218 shares respectively. Hoops also directly holds 69,749 shares of MP Materials Corp. common stock, and his spouse holds 1,000 shares.
In other recent news, MP Materials has been actively involved in several significant developments. The company announced the pricing of an upsized public offering of common stock at $55 per share, aiming to raise approximately $650 million. This offering includes the sale of 11,818,181 shares, with an option for underwriters to purchase an additional 1,772,727 shares. In analyst updates, Jefferies upgraded MP Materials from Hold to Buy and increased its price target to $80, citing "transformational deals" with the Department of Defense and Apple (NASDAQ:AAPL). Morgan Stanley (NYSE:MS) resumed coverage with an Equalweight rating and a $65 price target, noting the company’s materially transformed business model. JPMorgan also raised its price target to $64 from $18, attributing the increase to a landmark deal with the Department of Defense. Additionally, MP Materials announced a proposed $500 million public offering of common stock, with J.P. Morgan Securities LLC and Goldman Sachs & Co (NYSE:GS). LLC leading the management of the offering. These recent developments highlight a period of strategic activity and financial adjustments for MP Materials.
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