MP Materials Reports Third Quarter 2024 Results
MP Materials Corp. (MP)
Company Research
Source: Business Wire
Revenue increased 20% year-over-year to $62.9 millionRecord REO production of 13,742 metric tons, a 28% increase year-over-yearRecord NdPr production of 478 metric tons, a 76% sequential increaseNdPr sales volumes nearly tripled sequentially to 404 metric tonsFort Worth metal production in commissioning with deliveries on track for year-end LAS VEGAS--(BUSINESS WIRE)--MP Materials Corp. (NYSE: MP) (“MP Materials” or the “Company”) today announced financial and operational results for the three months ended September 30, 2024.“The MP team delivered record production of rare earth concentrate and NdPr oxide in the third quarter,” said James Litinsky, Founder, Chairman, and CEO of MP Materials. “Despite continued weak market pricing, increased NdPr sales volumes drove a return to year-over-year revenue growth. We are also pleased with our progress on scaling midstream production and reducing costs, providing line of sight to positive refining gross margins early next year.”Third Quart
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MP
News
- Visualizing Global Rare Earth Metals Production Over The Past 30 Years [zero hedge]zero hedge
- Why MP Materials Stock Popped 11% Today [Yahoo! Finance]Yahoo! Finance
- MP Materials Corp. (NYSE: MP) had its price target raised by analysts at Canaccord Genuity Group Inc. from $23.00 to $26.00. They now have a "buy" rating on the stock.MarketBeat
- U.S. And Australia Bond To Break China's Rare Earth Stranglehold [Forbes]Forbes
- The Australian Mining Magnate Cozying Up to Trump [Yahoo! Finance]Yahoo! Finance
MP
Earnings
- 11/7/24 - Beat
MP
Sec Filings
- 12/4/24 - Form SC
- 12/4/24 - Form 4
- 12/3/24 - Form 144
- MP's page on the SEC website