https://www.miningweekly.com

MP Materials' fourth-quarter loss beats Wall Street's expectations

21st February 2025

By: Reuters

  

Font size: - +

Rare earths producer MP Materials said on Thursday its fourth-quarter loss widened due in part to higher production costs for the refining of the critical minerals, but the results beat Wall Street's expectations.

Shares of the Las Vegas-based company rose 1% to $23.40 in after-hours trading.

MP reported a net loss for the period ended December 31 of $22.3 million, or 14 cents per share, compared to a net loss of $16.3 million, or 9 cents per share, in the year-ago quarter.

Excluding one-time items, including depreciation and costs for environmental obligations, MP lost 12 cents per share.By that measure, analysts expected a loss of 13 cents per share, according to IBES data from LSEG.

MP produces rare earths concentrate at its California mine that it sells to refiners in China and elsewhere. It also refines rare earths in California.

The company produced 11,478 metric tons of that concentrate during the quarter, 24% higher than the year-ago period.

At its California refinery, MP produced 413 metric tons of neodymium and praseodymium (NdPr) — the two most in-demand rare earths — during the quarter, nearly triple the year-ago period.

Realized prices of rare earth concentrates and NdPr both fell during the quarter.

MP said it expects to begin manufacturing permanent magnets at its Texas facility by the end of 2025.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.047 0.8s - 128pq - 2rq
Subscribe Now