MP Materials Shares Fall Over 9% Amid China Rare Earth Export Approval
MP Materials Shares Fall Over 9% Amid China Rare Earth Export Approval

MP Materials Shares Fall Over 9% Amid China Rare Earth Export Approval

News summary

Shares of MP Materials Corp (MP) have experienced a significant decline, with drops ranging from approximately 7.3% to 9.2% in recent trading sessions, settling around the $32.67 to $33.20 range. This downturn follows China's approval of rare earth export applications to the U.S., a move intended to ease trade tensions but which negatively impacted MP's stock price. Despite these declines, the consensus from 12 brokerage firms rates the stock as 'Outperform' with an average recommendation score of 1.8 on a scale where 1 is Strong Buy. Analyst price targets average $30.16, implying a downside of roughly 8-10% from current prices, while GuruFocus estimates a one-year fair value near $26.24, suggesting a potential downside exceeding 20%. The stock has shown high volatility, with intraday rallies failing to sustain, indicating strong selling pressure and caution for short-term traders, though some long-term investors may view price drops as buying opportunities.

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