MP Materials Northlake TX magnet campus scaling; Pentagon 15% stake
Key Questions
What are MP Materials' production plans for NdFeB magnets?
The company targets 10k MT of NdFeB capacity by 2028 with over $1.25B in planned capex at its Northlake, Texas magnet campus.
What stake does the Pentagon hold in MP Materials?
The Department of Defense acquired a 15% stake in MP Materials as part of a $400M investment to strengthen U.S. rare earth supply chains.
How did MP Materials perform in early 2026?
The company reported record production numbers and beat Q1 expectations while advancing its magnet production scaling.
What is the Apple partnership with MP Materials?
MP Materials entered a $500M partnership with Apple to support domestic rare earth magnet supply for electronics.
Why has MP Materials stock remained flat despite major deals?
Shares traded around $60 with a 37x sales valuation that appears stretched amid cooling China deal narratives, despite +108% YTD gains and HREE production starting in Q2.
Record 2026 production and Q1 beat; 10k MT NdFeB '28 ($1.25B+ capex); DoD $400M stake; $500M Apple partnership; HREE Q2; stock ~$60 but flat/down post-deals (37x sales valuation stretched) amid China deal cooling narrative (+108% YTD).