MP Materials

MP

Market cap $10.4B

MP appears to hold the near-term edge over USAR as U.S. magnet capacity ramps. Here's how their growth, funding and profits stack up.

MP Materials Corp (NYSE: MP) reported a profitable fourth quarter driven largely by a $51 million non-revenue Price Protection Agreement from the US Department of War, as the rare-earths miner also announced plans for a major new manufacturing campus in Texas. The company posted net income of $9.4 million in Q4 2025, alongside adjusted EBITDA of $39.2 million, marking its first profitable quarter of the year.

MP Materials Corp. (MP) Q4 2025 Earnings Call Transcript

MP Materials Corp. (MP) came out with quarterly earnings of $0.09 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to a loss of $0.12 per share a year ago.

The company's revenue declined 14% following the decision, which was made as part of an agreement with the U.S. government.

LAS VEGAS--(BUSINESS WIRE)---- $MP #rareearth--MP Materials Corp. (NYSE: MP) (“MP Materials” or the “Company”), today announced its financial results for the fourth quarter and full year ended December 31, 2025. Fourth Quarter 2025 Highlights Produced first NdFeB magnets on commercial equipment at Independence Produced 718 metric tons (MTs) of NdPr oxide and sold 562 MTs1, a 74% and 20% increase year-over-year, respectively Produced 12,080 MTs of rare earth oxides (“REO”) in concentrate, a 5% year-over-year incre.

MP Materials is expected to swing to positive Ebitda as it shifts to higher-value NdPr production and benefits from rising rare-earth prices.

Investors may focus on companies working to fill the supply gap.

MP Materials has chosen Northlake, Texas, for its new $1.25 billion rare earth magnet manufacturing campus. The facility, dubbed "10X," will use rare earth raw materials that have been sourced and processed at MP Materials' Mountain Pass mine in California.

Rare earth company MP Materials has selected the location for its next rare-earth magnet making facility.