Over the last few weeks, MP Materials (MP) inked a deal with General Motors to “develop a fully integrated U.S. supply chain rare earth magnets.”
While that news already sent MP shares from $30 to $43, company insider, Director Randall
Weisenburger just bought 86,901 shares for $3.5 million.
Helping, JP Morgan analysts recently increased their price target on the MP stock to $52 from $45. All thanks to forecasts for higher rare earth prices.
In addition, “The MP Materials team continues to deliver, with record quarterly production and shipments driving strong growth in revenue and Adjusted EBITDA,” said Chairman and CEO, James H. Litinsky. “Our performance reflects continued execution and cost discipline at Mountain Pass coupled with strong global demand for rare earth materials.”