MP Materials Corp. (NYSE:MP) Chief Financial Officer Ryan Corbett has added to his stake in the rare earths producer, acquiring $198,515 worth of common stock on November 10, 2026, according to a regulatory filing.
The transaction involved the purchase of 5,476 shares, with prices ranging from $35.68 to $36.84 per share. The filing detailed two blocks: 2,776 shares at a weighted average price of $35.68, with individual trades between $35.67 and $35.69, and an additional 2,700 shares at $36.84 each.
Following the purchases, Corbett directly holds 114,493 shares of MP Materials common stock.
The insider buying arrives at a time when the stock is trading near $36.73, closer to its 52-week low of $31.90 than its 52-week high of $76.80. Shares have declined 44% over the past six months, a pullback that may have caught the attention of company insiders.
According to InvestingPro, the stock currently appears overvalued relative to its Fair Value. For deeper insights, investors can access MP's comprehensive Pro Research Report, one of 1,400+ available on InvestingPro, along with 11 additional ProTips.
The purchase also follows a quarter of notable operational progress. In its third-quarter 2026 report, MP Materials delivered adjusted earnings of $0.04 per share, surpassing Wall Street's expectation of a $0.01 loss. Revenue came in at $147.65 million, exceeding the $117.09 million estimate.
Those results were supported by advancements in the company's rare earth and magnet business, including record NdPr oxide production and the first saleable magnet shipments following General Motors' qualification. MP Materials also began commercial-scale heavy rare earth separation during the quarter.
In response to the earnings release and conference call, Freedom Broker upgraded MP Materials' stock rating from Hold to Buy, citing valuation as a key factor. The firm adjusted its price target to $51 from $57, with analyst Vitaly Kononov noting meaningful upside potential and reflecting optimism about the company's future prospects.
Taken together, the insider purchase and the recent operational milestones suggest a positive trajectory for MP Materials, though the stock's valuation remains a point of contention among observers.