** Shares of miner MP Materials Corp MP.N fall 0.9% to $19.8 premarket
** Co reported smaller-than-expected loss on higher production and sales volumes of battery rare earths; reported Q3 loss of 12 cents/shr vs. est. loss of 13 cents/shr - LSEG
** D.A. Davidson ("buy", PT $23) notes rare earth pricing has stabilized since beginning of the year, current spot prices for purified NdPr - a key rare earth element - at ~$55-$60/kg; "legacy demand for MP (that for the time being dominates NdPr use) remains cyclically weak"
** NdPr - neodymium and praseodymium — are two most in-demand rare earths used in battery magnets
** TD Cower ("buy" PT $22) expects upstream, midstream volumes to decline or remain flat on Q4 maintenance, but reaccelerate in 2025
** "Expanding commercial opportunities and gov't support suggest compelling demand signals" - TD Cowen
** Up to last close, MP up ~0.7% YTD
(Reporting by Seher Dareen in Bengaluru)
((Seher.Dareen@thomsonreuters.com;))
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