MP Materials Tops Q4 Revenue Estimates, Kicks Off Auto-Grade Magnet Production Trial — Retail Traders Buy In

MP Materials Corp.’s (MP) fourth-quarter revenue edged past Wall Street estimates, but the company’s shares edged lower by 0.1% in after-hours trading as the company posted a loss of $0.12 per share during the quarter.

MP Materials posted $61 million in Q4 revenue, growing 48% year-on-year (YoY), compared to Wall Street estimates of $52.57 million.

The rare earth materials company posted a decline in its earnings per share (EPS) during the quarter – it posted a loss of $0.12 per share, compared to an estimate of $0.13 loss per share. During the same period last year, its loss per share stood at $0.02.

MP Materials noted that the rise in losses is due to elevated costs in the materials segment due to an initial ramp up of production of separated products.

The Las Vegas, Nevada-headquartered company produced 11,478 metric tons of rare earth oxides during the quarter despite disruptions caused due to maintenance shutdowns. The company’s CEO, James Litinsky, called 2024 a “terrific year of execution.”

“We achieved record upstream and midstream production at Mountain Pass and, in the fourth quarter, commenced commercial production of NdPr metal and trial production of automotive-grade magnets at Independence,” he added.

Mountain Pass is the only operational rare earth mine and processing facility in the U.S.

The company has started commercial production of neodymium-praseodymium metal, a key material used in high-performance applications such as permanent magnets for electric vehicles (EVs), wind turbines, and the aerospace industry.

On Stocktwits, retail sentiment around the MP Materials stock soared, hovering in the ‘bullish’ (70/100) territory after being ‘bearish’ a day ago. Message volume surged, too.

One user hoped that the stock would gain when markets open on Friday.

MP Materials stock has gained 43% in the past year, but its surge in the past six months has been far more stellar, with gains of 88%.

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Also See: Akamai Stock Tanks After-Hours As Disappointing Guidance Outweighs Q4 Beat: Retail Sentiment Sours