MP Materials Corporation - Ordinary Shares - Class A Aktie News

MP Materials testified in front of Congress this week to talk about China and the domestic rare-earth industry.

“Big mo” stock strategies have lost their advantage, but these companies display relative strength.

Stock selection in materials was the largest contributor to relative performance. The fund's holdings in mining exchange-traded funds and lack of real estate exposure also aided relative return. Stock selection in healthcare, energy, industrials and IT detracted from relative return.

MP Materials (NYSE:MP) shares jumped about 9% on Wednesday following the announcement of a joint venture with the US Department of Defense and the Saudi Arabian Mining Company (Maaden) to develop a rare earth refinery in Saudi Arabia. Under the agreement, MP and the Pentagon will collectively hold a 49% stake in the joint venture, while Maaden will maintain a minimum 51% interest.

MP Materials, the Department of Defense, and Saudi mining company Maaden signed a binding agreement to develop a rare earth refinery in the kingdom. MP and the Pentagon will hold a 49% stake in the joint venture, the company said.

Rare earth stocks came back down to earth. Now some are reascending.

MP Materials' stock was surging Wednesday after the rare-earth producer announced a partnership with the U.S. government to build a refinery in Saudi Arabia.

Goldman Sachs launched coverage of MP Materials stock with a Buy rating and $77 price target. It says sell Ramaco Resources shares.