Latest news with #Department of Defense
Yahoo
5 hours ago
- Business
- Yahoo
Here's Why MP Materials Blasted Higher Again This Week
Key Points The necessity to secure a reliable domestic supply of rare earth materials is driving MP Materials stock higher. A deal with Apple followed a landmark agreement with the Department of Defense. 10 stocks we like better than MP Materials › Shares in rare-earth materials and magnets company MP Materials (NYSE: MP) blasted higher by 33.6% in the week to Friday morning. Why MP Materials surged again this week It's not hard to see why the stock has surged this year. The ongoing need to secure domestic provision of rare earths and the growing trade conflict with China (the country produces about 70% of global rare-earth elements) is driving the U.S. administration, via the Department of Defense, to enter into a partnership with MP Materials. The $400 million investment in stock from the DOD, a $150 million loan, and an agreement to ensure the purchase of magnets produced from a facility that MP Materials will build with the help of committed financing, provide substantive backing to the company's growth plans. But that was last week. On Tuesday, MP Materials announced an agreement with Apple, whereby it will pay $500 million (with $200 million prepaid) for rare-earth magnets under a long-term supply agreement. The magnets will be produced at a facility in Texas that MP Materials will expand. The news sent the stock racing higher, and a public offering of stock worth $500 million on Wednesday received such interest that management raised it to $650 million the next day. This is a company on a roll, but substantive execution and political risk remain over the long term. Should you buy stock in MP Materials right now? Before you buy stock in MP Materials, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and MP Materials wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,281!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,050,415!* Now, it's worth noting Stock Advisor's total average return is 1,058% — a market-crushing outperformance compared to 179% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends MP Materials. The Motley Fool has a disclosure policy. Here's Why MP Materials Blasted Higher Again This Week was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
MP Materials commences $500 million public offering of common stock
(Reuters) -MP Materials said on Wednesday it would sell $500 million of its common stock, a day after the U.S. rare earths miner inked a supply deal with Apple. Shares of MP Materials fell 5.8% in extended trade. They have surged 275% so far this year, giving the company a market value of $9.57 billion. The $500 million agreement with Apple is a coup for MP and a rare investment by a tech company aiming to reduce its supply risks for rare earth magnets. The Las Vegas-based company also signed a multibillion-dollar agreement with the U.S. Department of Defense last week as the government seeks to reduce its reliance on China, which restricted rare earths exports in April in response to President Donald Trump's tariffs. Though the U.S. and China reached a deal in June that has resolved much of the rare earths dispute, broader trade tensions continue to underscore demand for non-Chinese supply. The Pentagon deal did not require MP Materials to issue stock for the general public. MP said it intends to use net proceeds from the offering to fund growth opportunities and for general corporate purposes. The company said it would grant underwriters a 30-day option to purchase up to an additional 15% of its shares. J.P. Morgan and Goldman Sachs are acting as lead joint book-running managers in the stock sale, while Morgan Stanley is another book-running manager. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
MP Materials commences $500 million public offering of common stock
(Reuters) -MP Materials said on Wednesday it would sell $500 million of its common stock, a day after the U.S. rare earths miner inked a supply deal with Apple. Shares of MP Materials fell 5.8% in extended trade. They have surged 275% so far this year, giving the company a market value of $9.57 billion. The $500 million agreement with Apple is a coup for MP and a rare investment by a tech company aiming to reduce its supply risks for rare earth magnets. The Las Vegas-based company also signed a multibillion-dollar agreement with the U.S. Department of Defense last week as the government seeks to reduce its reliance on China, which restricted rare earths exports in April in response to President Donald Trump's tariffs. Though the U.S. and China reached a deal in June that has resolved much of the rare earths dispute, broader trade tensions continue to underscore demand for non-Chinese supply. The Pentagon deal did not require MP Materials to issue stock for the general public. MP said it intends to use net proceeds from the offering to fund growth opportunities and for general corporate purposes. The company said it would grant underwriters a 30-day option to purchase up to an additional 15% of its shares. J.P. Morgan and Goldman Sachs are acting as lead joint book-running managers in the stock sale, while Morgan Stanley is another book-running manager. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
MP Materials commences $500 million public offering of common stock
July 16 (Reuters) - MP Materials (MP.N), opens new tab said on Wednesday it would sell $500 million of its common stock, a day after the U.S. rare earths miner inked a supply deal with Apple (AAPL.O), opens new tab. Shares of MP Materials fell 5.8% in extended trade. They have surged 275% so far this year, giving the company a market value of $9.57 billion. The $500 million agreement with Apple is a coup for MP and a rare investment by a tech company aiming to reduce its supply risks for rare earth magnets. The Las Vegas-based company also signed a multibillion-dollar agreement with the U.S. Department of Defense last week as the government seeks to reduce its reliance on China, which restricted rare earths exports in April in response to President Donald Trump's tariffs. Though the U.S. and China reached a deal in June that has resolved much of the rare earths dispute, broader trade tensions continue to underscore demand for non-Chinese supply. The Pentagon deal did not require MP Materials to issue stock for the general public. MP said it intends to use net proceeds from the offering to fund growth opportunities and for general corporate purposes. The company said it would grant underwriters a 30-day option to purchase up to an additional 15% of its shares. J.P. Morgan and Goldman Sachs are acting as lead joint book-running managers in the stock sale, while Morgan Stanley is another book-running manager.
Yahoo
3 days ago
- Business
- Yahoo
MP Materials commences $500 million public offering of common stock
(Reuters) -MP Materials said on Wednesday it would sell $500 million of its common stock, a day after the U.S. rare earths miner inked a supply deal with Apple. Shares of MP Materials fell 5.8% in extended trade. They have surged 275% so far this year, giving the company a market value of $9.57 billion. The $500 million agreement with Apple is a coup for MP and a rare investment by a tech company aiming to reduce its supply risks for rare earth magnets. The Las Vegas-based company also signed a multibillion-dollar agreement with the U.S. Department of Defense last week as the government seeks to reduce its reliance on China, which restricted rare earths exports in April in response to President Donald Trump's tariffs. Though the U.S. and China reached a deal in June that has resolved much of the rare earths dispute, broader trade tensions continue to underscore demand for non-Chinese supply. The Pentagon deal did not require MP Materials to issue stock for the general public. MP said it intends to use net proceeds from the offering to fund growth opportunities and for general corporate purposes. The company said it would grant underwriters a 30-day option to purchase up to an additional 15% of its shares. J.P. Morgan and Goldman Sachs are acting as lead joint book-running managers in the stock sale, while Morgan Stanley is another book-running manager. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
