MP Stock - MP Materials Corp.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $203.85M | $253.44M | $527.51M | $331.95M | $134.31M |
| Gross Profit | $-66,788,000 | $105.02M | $416.94M | $231.32M | $63.58M |
| Gross Margin | -32.8% | 41.4% | 79.0% | 69.7% | 47.3% |
| Operating Income | $-169,426,000 | $-17,719,000 | $327.41M | $165.34M | $-34,703,000 |
| Net Income | $-65,424,000 | $24.31M | $289.00M | $135.04M | $-21,825,000 |
| Net Margin | -32.1% | 9.6% | 54.8% | 40.7% | -16.2% |
| EPS | $-0.57 | $0.14 | $1.64 | $0.78 | $-0.27 |
MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals. It offers cerium, lanthanum, neodymium, praseodymium, and samarium. The company was founded in 2017 and is headquartered in Las Vegas, Nevada.
Visit WebsiteRating Distribution
Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 5th 2025 | Morgan Stanley | Upgrade | Overweight | $71 |
| November 24th 2025 | BMO Capital Markets | Upgrade | Outperform | $75 |
| November 19th 2025 | Goldman | Initiation | Buy | $77 |
| November 14th 2025 | JP Morgan | Upgrade | Overweight | - |
| November 10th 2025 | Deutsche Bank | Upgrade | Buy | $71 |
| October 9th 2025 | BMO Capital Markets | Resumed | Market Perform | $76 |
| September 23rd 2025 | Daiwa Securities | Initiation | Outperform | $80 |
| August 1st 2025 | Jefferies | Upgrade | Buy | $80 |
| July 31st 2025 | Morgan Stanley | Resumed | Equal Weight | $65 |
| July 7th 2025 | Jefferies | Downgrade | Hold | $33 |
| June 5th 2025 | Morgan Stanley | Upgrade | Overweight | $34 |
| September 27th 2024 | Robert W. Baird | Reiterated | Outperform | $25← $20 |
| July 15th 2024 | BMO Capital Markets | Initiation | Market Perform | $16.5 |
| April 23rd 2024 | JP Morgan | Downgrade | Neutral | $16← $20 |
| March 13th 2024 | Morgan Stanley | Downgrade | Equal Weight | $15.5← $26 |
Earnings History & Surprises
MPEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 6, 2026 | — | — | — | — |
Q1 2026 | Feb 19, 2026 | $0.10 | — | — | — |
Q4 2025 | Nov 6, 2025 | $-0.17 | $-0.10 | +42.2% | ✓ BEAT |
Q3 2025 | Aug 7, 2025 | $-0.20 | $-0.13 | +34.0% | ✓ BEAT |
Q2 2025 | May 8, 2025 | $-0.10 | $-0.12 | -20.0% | ✗ MISS |
Q1 2025 | Feb 20, 2025 | $-0.09 | $-0.12 | -33.3% | ✗ MISS |
Q4 2024 | Nov 7, 2024 | $-0.13 | $-0.12 | +7.7% | ✓ BEAT |
Q3 2024 | Aug 1, 2024 | $-0.09 | $-0.17 | -88.9% | ✗ MISS |
Q2 2024 | May 2, 2024 | $-0.02 | $-0.04 | -84.6% | ✗ MISS |
Q1 2024 | Feb 22, 2024 | $-0.01 | $-0.02 | -53.5% | ✗ MISS |
Q4 2023 | Nov 2, 2023 | $0.00 | $0.04 | +4110.5% | ✓ BEAT |
Q3 2023 | Aug 3, 2023 | $0.07 | $0.09 | +28.6% | ✓ BEAT |
Q2 2023 | May 4, 2023 | $0.18 | $0.27 | +50.0% | ✓ BEAT |
Q1 2023 | Feb 23, 2023 | $0.17 | $0.42 | +147.1% | ✓ BEAT |
Q4 2022 | Nov 3, 2022 | $0.30 | $0.36 | +20.0% | ✓ BEAT |
Q3 2022 | Aug 4, 2022 | $0.33 | $0.43 | +30.3% | ✓ BEAT |
Q2 2022 | May 5, 2022 | $0.41 | $0.50 | +22.0% | ✓ BEAT |
Q1 2022 | Feb 24, 2022 | $0.24 | $0.31 | +29.2% | ✓ BEAT |
Q4 2021 | Nov 4, 2021 | $0.17 | $0.27 | +58.8% | ✓ BEAT |
Q3 2021 | Aug 5, 2021 | $0.13 | $0.17 | +30.8% | ✓ BEAT |
Latest News
Shares of rare-earth mineral stocks are trading lower. Reports suggest that China is granting European countries licenses with lengthier terms to get rare earth materials.
➖ NeutralMorgan Stanley Upgrades MP Materials to Overweight, Raises Price Target to $71
📈 PositiveShares of minerals stocks are trading higher on reports indicating the US plans to take more stakes in minerals companies.
📈 PositiveReported December 1, 2025: 'Chinese Rare-Earth Dealers Find Ways to Dodge Beijing's Export Restrictions' - WSJ
📉 NegativeShares are rare-earth companies are trading higher. A report suggested that Chinese rare-earth magnet companies are finding ways to bypass the country's export restrictions.
📈 PositiveReported Earlier: Energy Department Announces $134M In Funding To Strengthen Rare Earth Element Supply Chains, Advancing American Energy Independence
📈 PositiveMP Materials jumps with BMO upgrading as 'U.S. rare earth champion'
📈 PositiveMP Materials shares are trading higher after BMO Capital upgraded the stock from Market Perform to Outperform but cut its price target from $76 to $75.
📈 PositiveBMO Capital Upgrades MP Materials to Outperform, Lowers Price Target to $75
📈 PositiveDA Davidson Maintains Buy on MP Materials, Maintains $82 Price Target
📈 PositiveMP Materials, U.S. Department of War form rare earth refining JV with Saudi Arabia's Maaden
📈 PositiveMP Materials Partners With US Department Of War To Establish a Joint Venture With Saudi Arabian Mining Company Maaden To Develop A Rare Earth Refinery In The Kingdom
📈 PositiveMP Materials shares are trading higher after Goldman Sachs initiated coverage with a Buy rating and a $77 price target.
📈 PositiveGoldman Sachs Initiates Coverage On MP Materials with Buy Rating, Announces Price Target of $77
📈 PositiveJP Morgan Upgrades MP Materials to Overweight, Lowers Price Target to $74
➖ NeutralShares of rare earth stocks are trading lower possibly following reports suggesting that China plans to implement a "validated end-user" system to export the minerals, but will also prevent them from going to U.S. military suppliers. The Copenhagen City Court removed a procedural barrier that allows Energy Transition Minerals the right to an exploitation license for the Kvanefjeld project.
📉 NegativeMP Materials raised at Deutsche Bank as 'long-term thematic play on fundamental value'
📈 PositiveMP Materials shares are trading higher after Deutsche Bank upgraded the stock to Buy and raised its price target to $71.
📈 PositiveDeutsche Bank Upgrades MP Materials to Buy, Raises Price Target to $71
📈 PositiveMP stock has given up its prior loss. MP Materials shares were trading lower after the company reported mixed Q3 financial results.
➖ NeutralFrequently Asked Questions about MP
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