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BUZZ-MP Materials rises on smaller-than-expected Q4 loss

Reuters
Feb 21, 2025
BUZZ-MP Materials rises on smaller-than-expected Q4 loss

** Rare earths producer MP Materials' MP.N shares rise 5% to $24.34 premarket

** Company reported Q4 loss of 12 cents per share on Thursday vs est loss of 13 cents per share - data compiled by LSEG

** MP produced 11,478 metric tons of rare earth oxides (REO) in concentrate, 24% up from a year earlier

** Company produced 413 metric tons of neodymium and praseodymium (NdPr) oxide, 175% up from last year

** Jefferies raises price target to $30 from $26; a 29.4% upside to the stock's last close

** "Positive momentum in REO concentrate and NdPr prices and solid execution in addressing bottlenecks suggest investors should focus on the shift towards integrated magnet production and potential policy support" - brokerage says

** Up till last close, stock up 48.6% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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