MP Materials Announces Increase to its Share Repurchase Program
MP Materials Corp. (MP)
Company Research
Source: Business Wire
LAS VEGAS--(BUSINESS WIRE)--MP Materials Corp. (NYSE: MP) (“MP Materials” or the “Company”) today announced that its Board of Directors has approved a $300 million increase to the Company’s existing share repurchase program, bringing the total authorized amount to $600 million. The share repurchase program has also been extended and is now effective until August 30, 2026.Subsequent to the most recent earnings announcement on August 1, 2024, MP Materials repurchased 1.4% of the Company, or approximately 2.2 million shares, at an average price of $10.84. Together with repurchases made in March, MP Materials has now repurchased approximately 8.6% of the Company’s shares of common stock for a total of $225.1 million in 2024.“We remain very confident in the long-term value of our assets and the MP platform,” said James Litinsky, Founder, Chairman, and CEO of MP Materials. “As we have consistently stated, subject to continuing to maintain a fortress balance sheet, we expect to be opport
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MP
Earnings
- 8/1/24 - Miss
MP
Sec Filings
- 9/6/24 - Form SD
- 9/3/24 - Form 8-K
- 8/8/24 - Form 4
- MP's page on the SEC website