MP Materials Stock Jumps as Wall Street Moves on Rare-Earth Play
MP Materials surged 7.7% to $69.70 after Needham initiated coverage with a Buy rating and $81 target, citing MP’s advantage over new entrants. First-quarter revenue jumped 49% to $90.6 million, with record NdPr output and sales, though net loss was $8 million. Shares outpaced major indexes. USA Rare Earth rose 6.3% after announcing a possible €175 million France investment. Rare-earth sector faces price volatility and project risks.