MP Materials (MP)

Jan 7, 2022Trade Ideas

MP Materials (MP) could see higher highs.

For one, it recently signed a strategic rare earth supply deal with General Motors.

According to Investor’s Business Daily, “Neodymium-iron-boron (NdFeB) magnets are essential for EV motors. The magnets also are critical inputs for drones, defense systems, wind turbines, robotics and many other advanced technologies. However, there is virtually no domestic capacity to produce NdFeB magnets today.”

Two, with a deal in place with General Motors, we wouldn’t be shocked to see other automakers making similar deals down the road.

Three, in late December 2021, director Randall Weisenburger bought 86,901 shares of the stock for $3.5 million. Even better, according to Barron’s, “J.P. Morgan analyst Michael Glick increased his December 2022 price target on MP Materials stock to $52 from $45. Glick, who rates MP Materials at Overweight, ​​cited forecasts for higher rare-earth prices. MP Materials’ move into rare-earth magnets ‘could drive multiple expansion for the company.’”

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