D.A. Davidson & Co. trimmed its position in MP Materials by 45.4% during the third quarter, reducing its holdings by 16,908 shares to 20,372 shares. At quarter end, the firm’s remaining stake was valued at $1.37 million, down from approximately $2.5 million prior to the sale. This significant divestment represents one of the largest single-firm reductions among institutional holders and signals a reevaluation of exposure to rare-earth mining at current market conditions.

Several other major institutions shifted their MP Materials allocations in the first quarter. Royal Bank of Canada boosted its position by 26.5%, acquiring 49,052 additional shares to reach 234,185 shares, now valued at $5.72 million. Goldman Sachs increased its holdings by 36.0%, adding 51,348 shares for a total of 193,943 shares, worth $4.73 million. Meanwhile, AQR Capital Management and Integrated Wealth Concepts each initiated new stakes valued at $215,000 and $219,000 respectively. MIRAE ASSET GLOBAL ETFS added 479 shares, raising its total to 10,793 shares, now valued at $265,000. Institutional ownership accounts for just over 52% of the company’s outstanding shares.

Research houses have revised their outlooks for MP Materials in recent months. Daiwa Capital Markets initiated coverage with an outperform rating and set a $80.00 target. Morgan Stanley upgraded to overweight and lifted its price projection from $68.50 to $71.00. Bank of America raised its target from $78.00 to $112.00 and maintained a buy recommendation. BMO Capital Markets moved to outperform but lowered its target from $76.00 to $75.00. Wall Street Zen issued the sole sell rating, while the consensus across fourteen analysts stands at moderate buy with an average target of $78.91.

MP Materials reported third-quarter rare earth oxide output of 13,254 metric tons, with neodymium-praseodymium oxide production up 51% year-over-year to 721 metric tons. The company aims to reach 60,000 metric tons of annual production capacity. In July 2025, it secured a ten-year price-floor agreement with the Department of Defense guaranteeing $110 per kilogram for NdPr products, enhancing earnings visibility. Additionally, MP received a $40 million prepayment from a leading tech customer under a $500 million commitment for recycled magnet supplies, and expects downstream magnet sales to an automotive partner to begin in the second half of 2026.