MP Materials reaches a milestone

Article Excerpt

MP MATERIALS CORP., $20.01, is a buy. The company (New York symbol MP; TSINetwork Rating: Extra Risk) (www.mpmaterials.com; Shares outstanding: 177.6 million; Market cap: $3.6 billion; No dividends paid), until recently mined and lightly processed a mixed rare-earth concentrate, which was ultimately sold to processors in China. It did not process separated rare earths. However, MP has now invested about $220 million to optimize separation circuits and produce a rare-earth compound used in magnets. As a result, it recently began producing—and shipping to customers—the refined neodymium and praseodymium (NdPr) produced at Mountain Pass. That’s a major milestone for the company. MP Materials is a buy. buy. …