MP Materials shares fell 10.7% over the week as investor enthusiasm for rare-earth names cooled. The decline followed a Reuters report suggesting the government might retract price floor commitments for future critical minerals projects, rattling markets despite MP Materials’ existing DoD-backed pricing agreement. Trading volumes spiked 35% above the four-week average, underscoring the intensity of the sell-off.

MP Materials maintains a 10-year price floor of $110 per kilogram for its rare-earth oxides under a Department of Defense contract executed in July. Company management reiterated that this agreement remains unaffected by recent policy discussions, ensuring revenue visibility through 2031. Analysts estimate the floor covers approximately 40% of MP’s projected output over the next five years, reducing exposure to spot-market volatility.

MP Materials publicly refuted claims that it would lose price support, issuing statements to clarify that existing federal contracts are intact. The company emphasized its role as the only fully integrated US rare-earth producer, with operations spanning mining, separation, advanced metallization and magnet manufacturing. Legal counsel has engaged with DoD officials to secure written confirmation of contract status and forestall further market speculation.

MP Materials will report results for the quarter ended December 31, 2025, on Thursday, February 26, 2026, after markets close. Management will host a webcast and conference call at 5:00 p.m. Eastern Time, with a slide presentation to be released beforehand on the investor website. Investors will focus on production volumes, operating margins and guidance for the full year, particularly any updates on capital spending for planned capacity expansions.