Is MP Materials (MP) Stock a Buy After Its Strongest Quarter Yet?
TLDR
- MP Materials posted Q2 revenue of $108.49 million, up 89% year over year, beating analyst estimates of $96.89 million
- The company shifted away from selling raw concentrate to higher-value NdPr oxide and metal, with that revenue jumping from $25 million to $95 million
- MP received a $17.6 million Pentagon payment after NdPr market prices fell below the government’s $110/kg price floor
- Institutional ownership sits at 52.55%, with Odyssean LLC raising its position by 236.7% in Q2
- Wall Street holds a consensus “Buy” rating with an average price target of $78.21; the stock currently trades around $60.25
MP Materials (MP) stock opened at $60.25 on Wednesday, sitting roughly 45% below its 52-week high of $100.25, though its underlying business has been moving in the right direction.
The company reported Q2 2026 revenue of $108.49 million, up 89% year over year and ahead of the $96.89 million analyst consensus. Adjusted EBITDA swung from a $12.5 million loss to a positive $28.5 million in the same period.
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