MP Materials Achieves Record Rare Earth Output Amid Strategic Pivot

MP Materials reported mixed quarterly results on November 6, revealing a significant milestone in rare earth production despite ongoing strategic repositioning. The company’s shares experienced volatility during after-hours trading, reflecting investor uncertainty about the financial outcomes.

The third quarter saw MP Materials achieve unprecedented production levels, with 721 tons of neodymium-praseodymium (NdPr) oxide representing a remarkable 51% year-over-year increase and 21% sequential growth. The company also recorded its second-highest quarterly rare earth production ever at 13,254 tons.

While total revenue reached $53.6 million, the company’s financial picture revealed contrasting segment performance. The materials division contributed $31.6 million, while the rapidly expanding magnetics segment generated $21.9 million with $9.5 million in adjusted EBITDA. The materials segment experienced Read more...