MP Materials Reports First Quarter 2024 Results
MP Materials Corp. (MP)
Company Research
Source: Business Wire
REO production of 11,151 metric tons, the second highest everInitial design capacity (1,000 mt) of magnetics facility fully committedRepurchased 13.0 million shares of common stock, or 7.3% of shares outstanding, for $15.43 per shareIssued $747.5 million of new 3.0% convertible notes due 2030Repurchased $480.0 million of existing convertible notes due 2026 for $428.6 millionAwarded $58.5 million tax credit to advance U.S. rare earth magnet manufacturing LAS VEGAS--(BUSINESS WIRE)--MP Materials Corp. (NYSE: MP) (“MP Materials” or the “Company”), today announced financial and operational results for the three months ended March 31, 2024.“The MP team continues to execute, delivering the second highest quarterly REO production ever at Mountain Pass,” said James Litinsky, Founder, Chairman, and CEO of MP Materials. “Despite the continued difficult pricing environment, we believe we enhanced MP’s intrinsic value with significant progress across our separations operation, our Upstream 60K
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MP
News
- Opinion: We're falling further behind China in critical minerals [Financial Post (Toronto, Ontario, Canada)]Financial Post
- EU Courts Kazakhstan and Uzbekistan for Critical Raw Materials [Yahoo! Finance]Yahoo! Finance
- MP Materials to Participate in TD Cowen 2nd Annual Sustainability WeekBusiness Wire
- MP Materials Corp. (NYSE: MP) had its "buy" rating re-affirmed by analysts at Benchmark Co.. They now have a $30.00 price target on the stock.MarketBeat
- MP Materials Corp. (NYSE: MP) had its "buy" rating re-affirmed by analysts at Benchmark Co.. They now have a $30.00 price target on the stock.MarketBeat
MP
Earnings
- 5/2/24 - In-Line
MP
Sec Filings
- 5/17/24 - Form 4
- 5/16/24 - Form 144
- 5/3/24 - Form 10-Q
- MP's page on the SEC website