MP Materials Rises 148.5% Yearly on Apple Deal and 51% Q3 NdPr Jump
MP Materials shares surged 148.5% over the past year, outpacing the basic materials sector’s 44.7% rise and the S&P 500’s 15.7% gain. The company secured a recycled magnet supply deal with Apple, inked Department of War partnerships, and saw Q3 NdPr output jump 51% to 721 metric tons.
1. Stock Performance
MP Materials shares climbed 148.5% over the past year, far outpacing the basic materials sector’s 44.7% gain and the S&P 500’s 15.7% rise. Rival rare earth firms posted mixed results, with Lynas up 162% and Energy Fuels matching MP’s 148.5% gain.
2. Strategic Alliances
In July 2025, MP secured a long-term agreement to supply recycled rare earth magnets to Apple and forged partnerships with the Department of War to fast-track a domestic magnet supply chain. A joint venture with Saudi Arabian Mining Company will develop a rare earth refinery in Saudi Arabia.
3. Operational Momentum
NdPr production reached 721 metric tons in the third quarter of 2025, a 51% increase from the year-ago period, lifting nine-month output to 1,881 metric tons, up 114%. Rare earth oxide output totaled 13,254 metric tons in Q3, marking the second-highest quarterly volume on record.
4. Valuation and Outlook
MP trades at a 12-month forward price/sales multiple of 23.35X, well above the industry average of 1.30X. Consensus forecasts project 13.7% revenue growth in 2025 and 80.7% in 2026, with a $0.32 per share loss in 2025 and a $0.61 per share profit in 2026.