Materials Down as Dollar Rises -- Materials Roundup [MarketWatch]
MP Materials Corp. (MP)
Company Research
Source: MarketWatch
The dollar hit a multidecade high against rivals after the Fed said it would continue on its current inflation-fighting path through 2023. Cyclical sectors such as materials were volatile as the central bank provided some hope that inflation may be set to moderate. In a press conference, Fed Chairman Jerome Powell said the central bank had observed some "healing" of the supply issues that helped cause the latest bout of inflation, and had also seen signs of a peak in commodity inflation. "It's clear that energy prices have come down, but that's likely to stop, meaning we're not going to get much more of a reprieve from lower energy prices," said Oliver Pursche, senior vice president at financial advisory Wealthspire. MP Materials, which produces rare-earth metals in California, rose after decisions in the federal government to treat rare-earth magnets as a security risk. Surging prices for lithium are intensifying a race between auto makers to lock up supplies and raising c
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MP
News
- 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
- Rinehart's New Attack On China's Rare Earth Dominance [Forbes]Forbes
- Billionaire Rinehart Buys Stake in Rare Earths Producer Lynas [Yahoo! Finance]Yahoo! Finance
MP
Earnings
- 2/22/24 - Beat
MP
Sec Filings
- 4/5/24 - Form SC
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- MP's page on the SEC website