MP
MP Materials Corp.

MP Materials Corp.MP

Basic Materials · Other Industrial Metals & Mining
51.04USD
+2.08%
Sep 23, 2026
MP overview ready
Vertically Integrated U.S. Rare-Earth Producer Securing Domestic Magnet Supply
MP is a vertically integrated U.S. Rare-earth producer: it mines and processes rare-earth material at Mountain Pass, produces separated NdPr and other rare-earth products, and is ramping domestic magnetics operations and additional magnet capacity.
Direct narrative exposure
Exposed to the Critical Minerals Supply Security narrative through Rare Earth Magnet Supply — pure play.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Fundamentals under pressure
Ev / sales is weak.
Primary risk
Commodity price volatility.
Market Sep 22Filing Jun 30Price action Sep 22Research Sep 8

Conviction Level

NarrativeHeat7.5ThemeHeat7.7PriceAction5.4Valuation2.9CompanyPosition9.3
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryConstructive

Structure is constructive, but price remains well extended from the long-term weekly base and the earlier reset has already been partly recovered — a workable rather than ideal entry location.

Key Financials

Market Cap
$9.1B
Avg Volume (60D)
6.3M
60 sessions
Revenue Growth YoY
+10.1%
FY2025 vs FY2024
Gross Margin
+42.3%
Operating Margin
-41.5%
Trailing twelve months
Free Cash Flow Yield
-5.6%
Distance from 200DMA
-10.7%
Next Earnings
2026-11-05
P/E
N/M
EV / Sales
28.1x
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

Two of the three valuation perspectives say expensive; own history is the dissenting view.
MP Materials Corp. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces.

Company Research

Thesis
MP is a vertically integrated U.S. Rare-earth producer: it mines and processes rare-earth material at Mountain Pass, produces separated NdPr and other rare-earth products, and is ramping domestic magnetics operations and additional magnet capacity.
Opportunity
High opportunity
Government, defense, and strategic-industry efforts to establish resilient non-Chinese rare-earth extraction, separation, metallization, and NdFeB permanent-magnet supply chains.
Key risk
Commodity price volatility.

Narrative & Theme

Critical Minerals Supply Security
Part of Rare Earth Magnet Supply, with strong fit.
The thesis is reinforced by current U.S. Policy, financing, strategic-stockpile activity, and renewed supply-chain urgency following Chinese export restrictions.
Narrative HeatHeating up7.5 / 10
Theme HeatHeating up7.7 / 10

Business & Markets

Basic Materials · Other Industrial Metals & Mining
What they do

MP Materials Corp. produces rare earth materials and operates the Mountain Pass Rare Earth Mine and Processing facility in California, while also manufacturing magnetic precursor products and permanent magnets.

How it earns

The company generates revenue through the sale of rare earth materials and magnetic products on a transactional basis.

Products & services
Rare earth materials
Magnetic precursor products (NdPr metal)
NdFeB permanent magnets
Customers & end markets
Industrial manufacturers
Magnet and electronics producers
Market position

Leader in US rare earth mining as the operator of the only scaled rare earth mine in the country.

Demand drivers
Medium cyclicality

Demand for rare earth materials is tied to industrial and technology cycles, including electric vehicles and electronics manufacturing.