Overview
- MP reported three straight quarters of record neodymium-praseodymium oxide output, with the latest quarter up about 51% year over year.
- The company announced a $400 million Department of Defense investment and a $500 million partnership with Apple in 2025.
- MP also took a 49% stake in a joint venture with the Pentagon and Saudi Arabian Mining Company to develop a rare-earth refinery in Saudi Arabia.
- The business targets a mine-to-magnet model but does not yet produce high-performance magnets at large scale and expects only a slight magnet ramp in 2026.
- Shares have climbed roughly 250% year to date and recently fell about 40% from highs, with the latest analysis presenting the stock as a potential starter position for aggressive investors.