MP Materials (MP)
Materials · Rare earth mining and processing, permanent magnets
Domestically-focused rare earth miner and magnet maker building a vertically integrated supply chain for electric vehicles and clean energy, backed by long-term contracts with Apple and GM.
What MP Materials does
MP Materials is a rare earth mining and processing company operating the Mountain Pass Rare Earth Mine and Processing Facility in California. The company extracts rare earth minerals and processes them into rare earth oxides and metals, with expanding capabilities in separation and downstream production of neodymium-iron-boron (NdFeB) magnets. MP Materials is vertically integrating its value chain through midstream and downstream operations, including magnetics facilities like Independence and 10X, backed by partnerships with major industrial customers and the U.S. Department of War.
Themes: ["Rare earth mining and processing","Permanent magnets for EV and clean energy","Vertical integration in magnetics value chain","U.S. domestic rare earth supply chain","China supply chain diversification"]
Fundamentals
- Price$51.71 as of 2026-07-09 close
- Market cap$9.2B as of 2026-07-10
- 1-year return+72.2% as of 2026-07-09 close
- Net margin-20.5% as of 2026-07-10
- Gross margin+37.2% as of 2026-07-10
- ROE-3.5% as of 2026-07-10
- Debt / equity0.43 as of 2026-07-10
- Revenue growth (YoY)+60.9% as of 2026-07-10
- Revenue CAGR (3y)-24.8% SEC XBRL
- Beta1.92 as of 2026-07-10
Key risks (from latest filing)
["Reliance on long-term contracts with Apple and GM; ability to scale production facilities and meet volume/pricing commitments is uncertain","Volatility in rare earth product pricing and demand; competition from substitutes and intense competition within rare earth mining and magnetics industries","Execution and funding risks on capital-intensive midstream/downstream expansion (Independence Facility, 10X Facility) and dependency on U.S. Department of War funding and support for DoW Transactions"]
Competitors & peers
- Energy Fuels (UUUU)
- Lynas Rare Earths
- Molycorp
- Shin-Etsu Chemical
- Hitachi Metals
- TDK Corporation
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.