Welcome to our dedicated page for Mp Materials Corporation news (Ticker: MP), a resource for investors and traders seeking the latest updates and insights on Mp Materials Corporation stock.
MP Materials Corp. (NYSE: MP) is a rare earth materials and magnetics company that describes itself as America’s only fully integrated rare earth producer, with activities spanning mining, processing, advanced metallization, magnet manufacturing, and recycling. The MP news feed on Stock Titan aggregates company-issued press releases and related updates so readers can follow how these operations and partnerships evolve over time.
Recent news highlights include a strategic public–private partnership with the U.S. Department of Defense, later referenced as the U.S. Department of War (DoW), aimed at accelerating an end-to-end U.S. rare earth magnet supply chain. Filings and press releases describe a multibillion-dollar package of investments, a long-term NdPr price floor protection agreement, and a 10-year magnet offtake agreement tied to MP’s planned 10X magnet manufacturing facility. Updates also cover the company’s decision to cease sales of products to China in support of domestic supply chain objectives.
Investors can also follow announcements on quarterly financial and operational results, including production and sales volumes for rare earth oxides and NdPr products, as well as revenue contributions from the Materials and Magnetics segments. MP’s news frequently details the ramp-up of magnetic precursor product sales, commissioning progress at magnet manufacturing facilities, and developments in heavy rare earth separation at Mountain Pass.
Another recurring theme in MP Materials news is strategic commercial and international activity, such as the long-term magnet supply and recycling agreement with Apple and the joint venture with Maaden and the DoW to develop a rare earth refinery in Saudi Arabia. For users tracking critical minerals, defense-related materials supply chains, or magnet manufacturing, the MP news page offers a single place to review earnings releases, partnership announcements, capital markets transactions, and conference participation updates. Bookmark this page to quickly access new MP Materials disclosures as they are released.
MP Materials (NYSE: MP) has scheduled its fourth quarter 2024 financial results release for Thursday, February 20, 2025, after U.S. markets close. The company's management will host a conference call and webcast at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day.
A slide presentation will be made available on the company's investor relations website prior to the conference call. MP Materials operates the Mountain Pass facility, America's only scaled rare earth production source, and is expanding its manufacturing operations downstream to provide a complete supply chain solution from materials to magnetics.
MP Materials (NYSE: MP) has achieved a significant milestone by initiating commercial production of neodymium-praseodymium (NdPr) metal and trial production of automotive-grade, sintered NdFeB magnets at its Independence facility in Fort Worth, Texas. This marks the restoration of U.S. rare earth magnet production for the first time in decades.
The Independence facility is set to produce approximately 1,000 metric tons of finished NdFeB magnets annually, with production ramping up in late 2025. The facility will supply magnets to General Motors and other manufacturers, using raw materials from MP's Mountain Pass mine in California.
In 2024, Mountain Pass achieved record production of over 45,000 metric tons of rare earth oxides in concentrate and approximately 1,300 metric tons of NdPr oxide, along with other refined products. This development represents a important step in establishing a fully integrated, domestic rare earth magnet supply chain.
MP Materials (NYSE: MP) announced private exchange agreements for its convertible notes on December 9, 2024. The company will exchange $131.6 million of 0.25% green convertible senior notes due 2026 for $106.6 million of 3.00% convertible senior notes due 2030, resulting in a $25 million reduction in outstanding debt. After the exchange, expected to settle around December 16, 2024, the 2026 notes outstanding will be $78.4 million, and 2030 notes will total $854.1 million. J. Wood Capital Advisors plans to purchase approximately 750,000 shares of MP's common stock concurrently with the exchanges and has agreed to a 30-day holding period.
MP Materials (NYSE: MP) has announced its participation in the Jefferies 2024 Battery Storage & Materials Conference. Chief Financial Officer Ryan Corbett will represent the company on Friday, December 13, 2024, at 2:20 p.m. Eastern Time.
The company, which operates America's only scaled rare earth production facility at Mountain Pass, specializes in producing essential materials for electrification and advanced technologies. MP Materials is expanding its downstream manufacturing operations to create a comprehensive supply chain solution from materials to magnetics.
The presentation will be accessible via live webcast and replay through the company's investor relations website at investors.mpmaterials.com.
MP Materials reported its Q3 2024 financial results, showing a 20% year-over-year revenue increase to $62.9 million. Record production levels were achieved with 13,742 metric tons of REO, a 28% increase, and 478 metric tons of NdPr, a 76% sequential rise. NdPr sales volumes nearly tripled to 404 metric tons. Despite weak market pricing, increased NdPr sales contributed to revenue growth. However, the company reported a net loss of $25.5 million, a significant increase from the $4.3 million loss in Q3 2023. Adjusted EBITDA dropped to $(11.2) million from $15.6 million, mainly due to higher costs of sales and administrative expenses. Diluted EPS fell to $(0.16) from $(0.02) last year. The company is optimistic about achieving positive refining gross margins by early next year.
MP Materials Corp. (NYSE: MP) has announced its participation in two upcoming investor conferences. CFO Ryan Corbett will represent the company at the Gabelli Funds 48th Annual Automotive Symposium on November 4, 2024, at 2:50 p.m. ET, and the Baird 2024 Global Industrial Conference on November 13, 2024, at 11:15 a.m. ET. Both events will be available via webcast on the company's investor relations website.
MP Materials operates America's only scaled rare earth production facility at Mountain Pass and is expanding its downstream manufacturing operations to provide complete supply chain solutions from materials to magnetics.
MP Materials Corp. (NYSE: MP) has announced it will release its financial results for the third quarter ended September 30, 2024, after U.S. markets close on Thursday, November 7, 2024. The company's management will host a conference call and webcast at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day.
Prior to the conference call, MP Materials will issue a press release and post a slide presentation on their investor relations website. A webcast replay will be available approximately one hour after the call concludes.
MP Materials produces specialty materials for electrification and advanced technologies, with its Mountain Pass facility being America's only scaled rare earth production source. The company is expanding its manufacturing operations downstream to provide a full supply chain solution from materials to magnetics.
China's new export controls on critical minerals, set to take effect on September 15, 2024, are raising concerns about global supply chain implications. The changes directly impact the tungsten market and could signal potential future restrictions. This comes as the United States needs to increase its critical mineral usage tenfold for clean energy transition.
In response, mining companies are working to improve critical mineral production outside China:
- Troy Minerals Inc. (CSE: TROY) acquired two high-purity silica assets and is developing vanadium and rare earth element projects.
- United States Antimony (NYSE: UAMY) acquired Alaskan mining claims with high copper values.
- Perpetua Resources Corp. (NASDAQ: PPTA) is advancing its Stibnite Gold Project, which would be the only mined source of antimony in the US.
- Electra Battery Materials (NASDAQ: ELBM) is developing North America's only cobalt sulfate refinery.
- MP Materials Corp. (NYSE: MP) operates America's only scaled rare earth production source at Mountain Pass.
MP Materials (NYSE: MP) has increased its share repurchase program by $300 million, bringing the total authorized amount to $600 million. The program has been extended until August 30, 2026. Since August 1, 2024, the company has repurchased 1.4% of its shares (approximately 2.2 million) at an average price of $10.84. In 2024, MP Materials has repurchased 8.6% of its common stock for a total of $225.1 million. The company's CEO, James Litinsky, expressed confidence in the long-term value of MP Materials' assets and platform. The repurchase program allows for various methods of share acquisition, with timing, pricing, and amount subject to management's discretion based on market conditions and other factors.
MP Materials Corp. (NYSE: MP) has announced its participation in two upcoming conferences. James Litinsky, the company's Founder, Chairman, and CEO, will attend:
1. The Jefferies Industrials Conference on September 4, 2024, at 1:20 p.m. ET
2. The Morgan Stanley 12th Annual Laguna Conference on September 11, 2024, at 2:05 p.m. ET
Live webcasts and replays will be available on the company's investor relations website. MP Materials specializes in producing rare earth materials important for electrification and advanced technologies. The company operates America's only scaled rare earth production facility at Mountain Pass and is expanding its downstream manufacturing to provide a full supply chain solution from materials to magnetics.
FAQ
What is the current stock price of Mp Materials Corporation (MP)?
What is the market cap of Mp Materials Corporation (MP)?
