Shares of MP Materials (NYSE:MP) are extending a powerful rebound, trading up 6.76% to $54.56 in the Monday session after opening at $51.11. The move caps a torrid stretch in which MP has rallied 23.54% over the past week, snapping back sharply from an August 7 close that still leaves the stock down 28.08% over the past year.
Earnings Beat and Gadolinium Deal Fuel the Rebound
The catalyst traces back to MP Materials’ Q2 FY26 report on August 6, when the only fully integrated U.S. rare earth producer posted revenue of $108.49 million, up 89% year over year and beating the $95.95 million consensus by 13.08%. The engine was NdPr oxide and metal sales, which surged 277% to $94.43 million on separated product volumes of 1,006 metric tons. Adjusted EBITDA swung to $28.49 million from a $12.54 million loss a year ago.
Adjusted EPS came in at -$0.01, missing expectations for a roughly breakeven result and snapping a five-quarter EPS beat streak, weighed down by $14.43 million in start-up costs at the Independence magnet facility. Investors looked past the miss. The bigger story: a sizable nine-figure, multi-year gadolinium offtake with a U.S. aerospace and defense customer at locked-in pricing, plus accelerating construction at the 10X facility and the launch of Project Swarm to aggregate rare earth magnet demand from U.S. drone makers.
CEO James Litinsky framed the quarter with unusual conviction, telling investors, “When I look at all of the conversations we’re having and the potential demand that we see, I don’t lose any sleep about filling out the demand for this facility…I actually think that we’ll have the ability to be somewhat of a kingmaker in a couple of verticals.”
Rare Earth and Critical Minerals Peers Ride the Wave
The rally is broad-based. Rare earth and critical mineral names have moved together over the past week as investors position around U.S. supply chain policy and defense-linked offtakes. The table below prioritizes today’s session move alongside the one-week context and current market cap.
| Ticker / Company | Today | 1-Week | Market Cap |
|---|---|---|---|
| MP (MP Materials) | +6.76% | +23.54% | $9.76B |
| USAR (USA Rare Earth) | -0.31% | +29.30% | $4.80B |
| UUUU (Energy Fuels) | +0.04% | +23.60% | $3.53B |
| NB (NioCorp Developments) | +2.15% | +25.97% | $797M |
| LAC (Lithium Americas) | +0.77% | +12.54% | $1.19B |
The pattern is clear. Every U.S.-listed peer in the group has rallied double digits over the past week, with USAR up 29.30% and UUUU up 23.60%. That tells you MP’s move is riding a broader wave of investor conviction in the domestic critical minerals theme, but MP is the one carrying the fundamental catalyst: real revenue growth, government backing via a Department of War loan for samarium oxide production, and locked-in aerospace pricing. The stock trades at 21.86 times sales against an analyst target of $77.47, with 13 Buy and 5 Strong Buy ratings and no Sell calls on the sheet.
Helping out the sector was a roundtable at the white house on American mining last Friday. In addition, there’s been plenty of ‘bullish’ news in the broader AI space that’s creating incremental demand for rare earth companies. Researcher Semi Analysis released a report last Friday that SpaceX is targeting $300 to $500 billion in capital expenditures by the end of 2027, and this total could be in line with spending from Alphabet and Amazon. That level of investment would point to data center spending growing more than 50% again in 2027.
What to Watch Next
The next real catalysts are operational milestones. MP guided Q3 NdPr production above 1,000 metric tons with realized pricing in the high $90s per kilogram, and expects first commercial magnet shipments to General Motors in Q4 2026. Keep an eye on the $58.22 200-day moving average as the next technical checkpoint.
Contact [email protected] for any questions or corrections.
Top Gaining Stocks
Top Losing Stocks