Australia's Rinehart takes stake in Lynas Rare Earths, shares jump [Reuters]
MP Materials Corp. (MP)
Company Research
Source: Reuters
, opens new tab the largest producer of rare earths outside of China, an exchange filing showed late on Tuesday. The stake, taken by Rinehart's privately held Hancock Prospecting, is fuelling speculation of sector consolidation, after the magnate acted as a kingmaker in Australian lithium, and following merger talks between Lynas and the next biggest Western rare earths miner, MP Materials, earlier this year. Lynas shares rose as much as 5.9%. Rinehart and Hancock Prospecting have become substantial shareholders of Lynas with 5.82% voting power, according to the filing. Hancock took a substantial stakeholding in the U.S. rare-earths producer MP Materials (MP.N) New Tab , opens new tab , MP said earlier this month Lynas and MP Materials ended talks New Tab , opens new tab over a potential merger in February. Lynas appreciates the support of its shareholders but does not comment on individual shareholders, a Lynas spokesperson said. Hancock declined to comment. Report t
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MP
News
- MP Materials Corp. (NYSE:MP) is largely controlled by institutional shareholders who own 53% of the company [Yahoo! Finance]Yahoo! Finance
- Should You Hold MP Materials (MP) for the Long Term? [Yahoo! Finance]Yahoo! Finance
- MP Materials Corp. (NYSE: MP) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating. They now have a $16.00 price target on the stock, down previously from $20.00.MarketBeat
- Australia's Rinehart takes stake in Lynas Rare Earths, shares jump [Yahoo! Finance]Yahoo! Finance
- Rinehart's New Attack On China's Rare Earth Dominance [Forbes]Forbes
MP
Earnings
- 2/22/24 - Beat
MP
Sec Filings
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form ARS
- 4/26/24 - Form DEF
- MP's page on the SEC website