MP Materials is evolving from just a rare-earth miner to a fully integrated magnet producer, showing significant progress in Q2 2026 with 89% revenue growth and a 127% increase in NdPr sales volume. The company posted an adjusted EBITDA of $28.5 million, highlighting strong operational momentum. However, at a stock price of $50, MP trades at a high valuation of 35 times its estimated 2028 earnings per share, making it expensive unless the magnet production ramp-up after 2028 drives rapid earnings growth. The current recommendation is to hold the stock, with a more attractive buying opportunity expected if the price falls to around $35–$40, where the potential for a tenfold increase is better reflected.
MP Materials trades at USD 48.95 on Pluang as of Sep 24, 2026 00:02 WIB, down 4.09% in the past day. Despite strong growth reported in Q2 2026, the stock remains well below its 52-week high of USD 98.65, reflecting some investor caution. The market cap stands at $9.09 billion with a high buy interest of 92% among Pluang users, indicating confidence in the company’s long-term prospects despite the current valuation concerns.
