Mkango Magnetic Materials, specializing in rare earth magnet recycling, received a 'buy' rating from Cavendish with a target price implying 166% upside from its current share price. The broker highlights Mkango's patented HyProMag technology, which recovers alloy powder from used magnets, as the key growth driver. Mkango's UK and Germany facilities are expected to reach commercial scale in 2027, with a US joint venture starting production in early 2027 and integrated recycling by 2028. Revenue is forecasted to grow from $15.5 million in 2027 to $98.3 million in 2029, with profitability improving significantly and free cash flow positive status expected by 2028 after a planned funding round. Key catalysts include completing the MKAR transaction and scaling operations in Europe and the US, though risks remain around commercial performance, funding, and rare earth prices.
Mkango Magnetic Materials and its rare earth recycling growth outlook provide context for Basic Materials sector activity on Pluang. As of Sep 29, 2026 16:11 WIB, among 38 priced US Basic Materials stocks, 24 rose and 12 fell. Newmont Corporation (NEM) traded at USD 116.91 with 82% sell orders and a typical hold time of 58 days, contrasting Barrick Gold Corp (B) at USD 41.39 with 100% buy orders and a 55-day hold time, while Nutrien Ltd (NTR) showed 99% sell orders at USD 71.49 with a 58-day hold time.
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