Insider Purchases Worth About $3.35 Million Accompany MP Materials' Thursday Share Gain
Key Facts
MP Materials shares rose about 3.97% to $38.19 at the time Benzinga published its report on Thursday, November 12, alongside disclosures that three insiders had bought a combined 92,476 shares worth about $3.35 million. Benzinga reported that Chief Financial Officer Ryan Corbett bought 5,476 shares on November 10 at an average of $36.25 per share, for about $198,500. On the same day, board member Randall Weisenberger paid $36 per share for 55,000 shares, or about $1.98 million. Chief Operating Officer Michael Rosenthal bought 32,000 shares over November 10 and 11 at an average of $36.72 per share, for about $1.18 million. Benzinga's report did not say that these purchases drove the stock's gains in Thursday's session, so the price move and the purchases remain concurrent without establishing a causal link between them.
The disclosures followed the stock's close at $36.73 on November 11, according to EL7 data, before it registered the price cited in Thursday's report. Investing.com reported that the stock entered the referenced session down 27.3% year to date, amid a weaker annual performance. The same report also said shares rose 2.7% in premarket trading on Wednesday, a move that preceded Thursday's gains. These figures chart a volatile path for the stock in the days surrounding the disclosures, without establishing that insider purchases directly drove any gain. The price of $38.19 and the 3.97% increase were reported as readings at the time Benzinga's report was published, not as the session's closing price.
The news follows the company's third-quarter results, with consolidated revenue rising 176% year over year to $147.7 million, driven by higher sales of neodymium-praseodymium oxide and metal, as well as improved market prices. Revenue was $147.66 million, exceeding the analysts' average estimate of $117.47 million, according to Benzinga. The company also posted adjusted earnings of 4 cents per share, compared with expectations for a loss of 2 cents per share. The company's results showed revenue of $53.553 million in the third quarter of 2025, versus $147.655 million in the corresponding period of 2026. At the same time, net loss narrowed to $20.710 million in the third quarter of 2026 from $41.780 million a year earlier, but remained a loss.
On the production front, neodymium-praseodymium production reached 1,018 metric tons in the third quarter, up 41% year over year, while sales rose to 1,020 tons, an increase of 94%. The company said higher revenue reflected greater sales of oxide and metal from these materials and stronger market prices. Benzinga also reported that cash, cash equivalents and short-term investments totaled about $1.34 billion at the end of the third quarter. These results provide operational and financial context for the buying wave, but do not establish each buyer's motives or prove that those figures directly caused the transactions. The net loss recorded in the same quarter remains part of the financial picture alongside growth in revenue, production and sales.
Looking ahead, MP Materials said it had completed qualification of its magnets with General Motors and that deliveries of saleable magnets and the start of related revenue would begin in the fourth quarter of 2026. Chief Executive Officer James Litinsky said the company had "completed the qualification process with General Motors, with deliveries of saleable magnets and revenue set to begin in the fourth quarter." This timeline points to a potential addition to the company's business following growth in sales of neodymium-praseodymium materials in the third quarter. The step remains tied to the start of the deliveries and revenue the company announced, while the report gives no figure for their expected value. Thursday's share performance and the executives' purchases remain among the main near-term developments, alongside the third-quarter results and the plan to begin generating revenue from magnets.