This Government-Owned Rare-Earth Stock Still Has Big Upside Ahead, Goldman Says
MP Materials Corp. (NYSE:MP) has quickly become a cornerstone of U.S. industrial policy amid America’s attempt to decouple from China in critical technology supply chains — and Wall Street analysts are finally catching up to its strategic importance.
Shares of the Nevada-based rare-earth mining company rallied up to 9% on Wednesday, making it the top performer in the Russell 1000 index, after Goldman Sachs initiated coverage with a bullish Buy rating and a $77 price target — a 32% upside from current levels.
• MP shares are climbing with conviction. Check the analyst take here.
Goldman Sachs Sees Big Upside in America’s Rare-Earth Champion
Wall Street is getting excited about MP Materials again.
The company owns the only large rare-earth mine in the U.S. and is moving quickly to become a one-stop shop for rare-earth magnets — the small but powerful components needed in electric vehicles, smartphones, wind turbines and defense systems.
In a report shared to clients, Goldman Sachs analyst Peter Oppenheimer called MP one of the most important players in the U.S. supply …
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