MP Materials buys back shares

Article Excerpt

MP MATERIALS, $14.12, is still a buy. The company (New York symbol MP; TSINetwork Rating: Extra Risk) (www.mpmaterials.com; Shares o/s: 165.3 million; Market cap: $2.3 billion; No divids.) has approval for a $300 million increase to its existing share repurchase program, bringing the total authorized amount to $600 million. The share repurchase program has also been extended and is now effective until August 30, 2026. So far this year, MP Materials has repurchased approximately 8.6% of its common stock for a total spend of $225.1 million in 2024. MP Materials is still a buy. buy. …