Billionaire Rinehart Buys Stake in Rare Earths Producer Lynas [BNN Bloomberg (Canada)]
MP Materials Corp. (MP)
Company Research
Source: BNN Bloomberg
Rinehart and Hancock became substantial shareholders of the Sydney-listed company on Friday, according to a Lynas statement sent on Tuesday evening. Lynas is one of the only rare earths producers outside China — which dominates global rare earths production — with a mine and processing plant in Western Australia and a refinery in Malaysia. Rinehart has taken strategic positions in a number of critical minerals companies with large footprints across Australia, including Arafura Rare Earths Ltd., Liontown Resources Ltd., and Vulcan Energy Resources Ltd. Rinehart's $1.1 billion takeover of Azure Minerals Ltd. in partnership with Sociedad Química y Minera de Chile was approved by shareholders this month. Earlier this year, Lynas was in discussions with MP Materials Corp. over a potential merger, but this failed to materialize. ©2024 Bloomberg L.P.
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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
- Australia's Rinehart takes stake in Lynas Rare Earths, shares jump [Reuters]Reuters
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