Overview
- Shares rose 3.4% to $60.17 on Wednesday as new and recent upgrades from Jefferies, Goldman Sachs, Deutsche Bank and BMO lifted sentiment, with a consensus target near $78.73.
- Under a roughly $400 million deal, the Pentagon became MP’s largest shareholder, secured offtake from the upcoming 10X magnet facility and set an NdPr floor price near $110/kg.
- MP has begun selling magnets in 2025 and shifted away from shipping concentrate to China, a move that contributed to Q3’s revenue decline but advances its move downstream.
- The company posted a Q3 loss of $0.10 per share on $53.55 million in revenue, down 14.9% year over year, while maintaining strong liquidity and moderate leverage.
- Insiders sold 418,411 shares last quarter as institutions increased positions, and recent coverage notes a pullback after large year-to-date gains alongside renewed export-control signals from China that were later postponed.