MP Materials: Growth Is Strong But Much Has Already Been Priced In

Summary MP Materials is transforming from a rare-earth miner to a vertically integrated magnet producer, with major growth catalysts ahead. Q2 2026 showed strong operational progress: 89% revenue growth, 127% NdPr sales volume increase, and adjusted EBITDA of $28.5 million. At $50, MP trades at 35x 2028E EPS, making it expensive unless post-2028 magnet ramp-up delivers rapid earnings growth. I rate MP a Hold at current levels; more attractive entry lies around $35–$40, where future 10X-driven upside is better priced in. Andrei Akushevich/iStock via Getty Images MP Materials ( MP ) looked very different a few years ago. Back then, the results depended primarily on Mountain Pass and the price of rare earths. But now it produces NdPr in-house, builds magnets in Texas, and aims to This article was written by Investor Overview 3.12K Followers Follow I'm a passionate investor from the Netherlands with 12 years of stock market experience. My articles usually contain a good overview of important investment criteria. A stock for my portfolio is of interest to me if the company has the following characteristics:1. Companies that are growing in both revenue, earnings and free cash flow.2. Companies that have excellent growth prospects.3. Stocks with favorable valuations.I prefer steadily growing companies with high free cash flow margins, dividend stocks and stocks with generous share repurchase programs.Disclaimer: My articles do not provide financial advice, they reflect my own findings and insights. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.