MP Materials Corp.
- Open
- 53.50
- Day high
- 54.50
- Day low
- 52.35
- Prev close
- 54.75
- Volume
- 3.7M
- Mkt cap
- $9.6B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 4.9
- P/S
- 31.3
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$12.3M over the last 3 months (1 open-market buy, 3 sales)
- 🏛Institutions accumulating (13F)
MP Materials Corp. (MP) is a Basic Materials company listed on NYSE. The stock is down 20% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 3 sales (SEC Form 4). Drillr has 5 published research articles covering MP.
MP Materials Corp. (MP) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MP earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $-0.01 | $-0.01 | +0.6% | $108M | +12.0% |
| May 7, 2026 | $-0.01 | $0.03 | +400.0% | $91M | +21.2% |
| Nov 6, 2025 | $-0.17 | $-0.10 | +42.2% | $54M | -2.6% |
| Aug 7, 2025 | $-0.20 | $-0.13 | +34.0% | $57M | +26.2% |
| May 8, 2025 | $-0.10 | $-0.12 | -20.0% | $61M | +0.2% |
| Feb 20, 2025 | $-0.09 | $-0.12 | -33.3% | $61M | +23.4% |
| Nov 7, 2024 | $-0.13 | $-0.12 | +7.7% | $63M | +33.7% |
| Aug 1, 2024 | $-0.09 | $-0.17 | -88.9% | $31M | -21.9% |
| May 2, 2024 | $-0.02 | $-0.04 | -84.6% | $49M | -0.5% |
| Feb 22, 2024 | $-0.01 | $-0.02 | -53.5% | $41M | -11.4% |
| Nov 2, 2023 | $0.00 | $0.04 | +4110.5% | $53M | -1.3% |
| Aug 3, 2023 | $0.07 | $0.09 | +28.6% | $64M | -2.1% |
MP insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 30, 2026 | DUCKWORTH CONNIE Kdirector | Grant | 624 | — |
| Jun 15, 2026 | Lavan Maryannedirector | Option | 3,998 | — |
| Jun 15, 2026 | WEISENBURGER RANDALL Jdirector | Option | 3,998 | — |
| Jun 15, 2026 | MYERS RICHARD Bdirector | Option | 3,998 | — |
| Jun 15, 2026 | DUCKWORTH CONNIE Kdirector | Option | 3,998 | — |
| Jun 10, 2026 | McKnight Andrew A.director | Grant | 3,038 | — |
| Jun 10, 2026 | DONALD ARNOLD Wdirector | Grant | 3,038 | — |
| Jun 10, 2026 | MYERS RICHARD Bdirector | Grant | 3,038 | — |
| Jun 10, 2026 | Rosenthal Michael Stuartofficer: Chief Operating Officer | Buy | 10,000 | $54.30 |
| Jun 10, 2026 | DUCKWORTH CONNIE Kdirector | Grant | 3,038 | — |
| Jun 10, 2026 | Lavan Maryannedirector | Grant | 3,038 | — |
| Jun 10, 2026 | WEISENBURGER RANDALL Jdirector | Grant | 3,038 | — |
| Jun 5, 2026 | Litinsky James H.director, officer: Chairman and CEO | Sell | 136,141 | $68.65 |
| Jun 5, 2026 | Litinsky James H.director, officer: Chairman and CEO | Sell | 11,740 | $71.31 |
| Jun 5, 2026 | Litinsky James H.director, officer: Chairman and CEO | Sell | 37,286 | $70.23 |
Source: MP SEC Form 4 filings, latest Jun 30, 2026. For informational purposes only — not investment advice.
See the full MP insider & 13F page →MP research & analysis
Critical Minerals War: BHP, FCX Win as China's $190B Push Squeezes ALB and SQM
China's initiatives to dominate the $190B critical minerals market pressure lithium specialists like ALB and SQM while favoring diversified copper leaders BHP, RIO, and FCX. MP offers speculative upside via U.S. rare earth independence. Ranked picks highlight copper's resilience amid supply wars.
BHPRIOLACCritical Minerals: BHP, RIO, FCX Win as China's $190B Push Crushes ALB and SQM
China's bid to dominate the $190B critical minerals market pressures lithium producers like ALB and SQM but favors diversified copper giants BHP, RIO, and FCX, plus U.S. rare earth play MP. Backed by fresh financials and earnings guidance, the thesis ranks clear winners amid supply risks.
BHPRIOFCXTrump Threatens Total Iran Embargo: USO Jumps 4% — What Comes Next for XLE
New Pacific seabed rare earth mining plans near Guam, driven by US-China competition, spotlight opportunities for US critical minerals firms. MP Materials tops the list as the domestic rare earth leader, followed by diversified giants like Rio Tinto and Albemarle. The article ranks five stocks with detailed financials and theme exposure analysis.
RIOFCXALBSQM, ALB, MP: Japan-France Minerals Pact Creates Clear Winners in Lithium Race
Japan and France's critical minerals pact targets lithium, cobalt, and rare earths, favoring US-listed producers like SQM, ALB, and MP amid supply chain diversification. SQM leads with strong margins and guidance, while developers like LAC offer upside leverage. Ranked picks highlight scale and policy alignment as winners.
LACSQMALBRare Earth War: Pacific Seabed Mining Near Guam Puts MP and TMC in the Spotlight
Amid US-China rare earth rivalry, a new Pacific seabed mining plan near Guam spotlights MP Materials, TMC, and others as winners in critical minerals diversification. The article analyzes six firms' exposure, financials, and rankings, grounded in recent policy shifts.
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MP Materials Corp. company profile
Overview
MP Materials Corp. (NYSE:MP) is the only rare earth mining and processing company in the United States, operating the Mountain Pass mine in California. Founded in 2017, the company acquired and revitalized the historic Mountain Pass facility, which had been dormant since 2015. MP Materials has positioned itself as a critical supplier of rare earth elements essential for electric vehicles, wind turbines, defense applications, and emerging technologies. The company is pursuing a vertical integration strategy, expanding from basic rare earth concentrate production to manufacturing finished magnetic products for automotive and industrial customers.
Business
MP Materials operates in the rare earth elements industry, which produces specialized minerals essential for modern technology. Rare earth elements are a group of 17 metallic elements that possess unique magnetic, luminescent, and electrochemical properties that make them indispensable for high-tech applications. Despite their name, these elements are relatively abundant in the Earth's crust, but they are rarely found in economically exploitable concentrations and require complex processing to separate and purify. The company's core business revolves around three integrated stages of rare earth production. The Upstream (Stage I) operation involves mining and producing rare earth oxide (REO) concentrate from the Mountain Pass mine, generating approximately 42,000-45,000 metric tons annually. This represents roughly 15% of global rare earth production outside of China. The Midstream (Stage II) operation separates and refines the concentrate into individual rare earth oxides, particularly focusing on neodymium-praseodymium (NdPr) oxide, which is the most valuable component used in permanent magnets. The Downstream (Stage III) operation, still in development, will convert these oxides into finished magnetic alloys and permanent magnets for end-use applications. The company's primary products include cerium, lanthanum, neodymium, praseodymium, and samarium. The most commercially significant are neodymium and praseodymium, which together form the basis for the world's strongest permanent magnets used in electric vehicle motors, wind turbine generators, and various industrial applications. Based on recent financial data, the Materials segment (Stages I and II) generates virtually all current revenue, while the nascent Magnetics segment contributed only $5.2 million in Q1 2025.
Revenue model
MP Materials generates revenue primarily through the sale of rare earth products at different stages of processing. The company sells REO concentrate to customers globally, with pricing tied to international rare earth commodity markets. As the company has developed its midstream capabilities, it increasingly sells higher-value separated rare earth oxides, particularly NdPr oxide, which commands significantly higher margins than concentrate. The business model centers on capturing more value through vertical integration. Raw concentrate sales generate lower margins but require minimal processing, while separated oxides command premium pricing but require substantial capital investment and technical expertise. The company's customers include rare earth processors, magnet manufacturers, and increasingly, original equipment manufacturers (OEMs) in automotive and industrial sectors. MP Materials has secured supply agreements with major automakers including General Motors and has contracts with the U.S. Department of Defense. Several factors significantly impact the company's profitability. Rare earth pricing volatility represents the primary margin driver, with NdPr oxide prices fluctuating from over $120 per kilogram in 2022 to around $48-55 per kilogram in 2024. Chinese market dynamics heavily influence global pricing, as China controls approximately 85% of global rare earth processing capacity. Geopolitical tensions and supply chain security concerns create both opportunities and risks for MP Materials as the sole Western hemisphere producer. Production scale and efficiency directly impact unit costs, with the company targeting cost reductions to the low $40s per kilogram for NdPr oxide production. Capital intensity of downstream operations requires substantial investment but promises higher margins, with the magnetics business expected to achieve positive EBITDA in 2025.
Competitive moat
MP Materials possesses a moderate but potentially strengthening competitive moat based on several factors. The company's geographic monopoly as the only significant rare earth producer in the Western Hemisphere provides strategic value, particularly given increasing geopolitical tensions with China and growing emphasis on supply chain security. The Mountain Pass deposit represents one of the world's highest-grade rare earth resources, providing cost advantages and long-term resource security with decades of proven reserves. The company's developing vertical integration capabilities create potential competitive advantages, as few companies globally possess the technical expertise and capital resources to operate across the entire rare earth value chain. MP Materials' relationships with major OEMs and government customers, including multi-year supply agreements, provide some demand stability and switching costs for customers seeking non-Chinese supply sources. However, the moat faces significant challenges. Chinese competition remains formidable, with established producers benefiting from decades of experience, integrated supply chains, and government support. Chinese companies can potentially undercut MP Materials on price when geopolitical considerations are secondary. The company's technical execution risk is substantial, as evidenced by ongoing production optimization challenges and the complexity of rare earth separation processes. Commodity price exposure limits pricing power, and the company must achieve cost competitiveness to maintain market share. Additionally, potential new entrants, recycling technologies, or alternative materials could erode the company's strategic position over time. The moat is currently developing rather than established, with success dependent on flawless execution of the vertical integration strategy.
Risks & safety
MP Materials maintains a moderate margin of safety with some concerning elements requiring monitoring. • Liquidity position: Strong with $198 million in cash and short-term investments, current ratio of 4.1x, and minimal debt (debt-to-equity ratio of 0.07) • Cash burn concerns: Negative free cash flow of -$94 million in Q1 2025, with ongoing capital expenditure requirements of $150-175 million annually • Solvency risk: Low near-term risk given strong balance sheet, but cash burn rate requires monitoring • Valuation metrics: Elevated with EV/EBITDA of 531x due to minimal EBITDA generation, P/B ratio of 3.9x • Operational profitability: Company is not consistently profitable at operating level, with negative EBITDA in recent quarters • Capital intensity: High ongoing capital requirements for vertical integration strategy may strain cash resources if execution falters
Recent development
Over the past several years, MP Materials has executed a comprehensive vertical integration strategy moving beyond basic rare earth mining. The company successfully commissioned its Stage II midstream operations, dramatically increasing NdPr oxide production from 200 metric tons in 2023 to over 1,200 metric tons in 2024. This represents a critical milestone in reducing dependence on Chinese processing capabilities. The company launched its "Upstream 60K" initiative to increase REO concentrate production by approximately 50% through optimization projects and equipment upgrades, requiring minimal incremental capital investment. Recent quarters have shown record production levels, with Q1 2025 achieving 563 metric tons of NdPr oxide production, a 36% sequential increase. Stage III magnetics development has progressed significantly, with the company achieving first on-specification metal production for General Motors and establishing commercial-scale production capabilities at its Fort Worth facility. The magnetics division generated its first positive adjusted EBITDA of $0.5 million in Q1 2025. MP Materials has secured supply agreements with three of the five largest non-Chinese automotive OEMs and received substantial government support including $58.5 million in advanced manufacturing tax credits. The company has also pursued strategic financial optimization, conducting significant share repurchases totaling over $225 million (8.6% of outstanding shares) when stock prices were depressed, and refinancing debt to extend maturities. Recent quarters have seen increased focus on cost optimization and production efficiency improvements across all operational stages.
MP company profile · for informational purposes only — not investment advice.
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