MP signs distribution deal for growth

Article Excerpt

MP MATERIALS CORP., $27.73, is a buy. The company (New York symbol MP; TSINetwork Rating: Extra Risk) (www.mpmaterials.com; Shares outstanding: 177.6 million; Market cap: $5.2 billion; No dividends paid) is the owner and operator of the Mountain Pass mine. That’s the only significant rare-earth commercial mining and processing site in North America. MP recently announced a distribution agreement with Japan’s giant Sumitomo Corporation. Japan is the largest producer of neo magnets outside of China, and thus the largest market for MP’s refined products outside of China. Sumitomo will serve as its exclusive distributor in Japan. MP Materials is a buy. buy…