TLDR
- MP Materials stock jumped over 9% Friday, trading at $60.16
- The U.S. Department of Energy selected seven projects to expand critical mineral processing, fueling the rally
- MP reported an 89% jump in Q2 2026 revenue and a 51% rise in neodymium-praseodymium output
- Materials was the strongest market sector Friday, rising 2.09%
- Analyst consensus is Buy with an average price target of $71.79
MP Materials (MP) stock climbed more than 9% on Friday, trading at $60.16, as a wave of policy momentum and strong earnings pushed critical minerals stocks higher.
The broader Materials sector led the market, rising 2.09%. The S&P 500 gained 0.42% and the Nasdaq added 0.31%.
The catalyst came from the U.S. Department of Energy, which selected seven projects to expand domestic critical mineral processing, battery manufacturing and recycling capacity. That news landed well with investors already watching the space.
The funding push aligns with President Trump’s “Unleashing American Energy” executive order, which has kept domestic mineral supply chains in focus for much of 2026.
MP operates the Mountain Pass facility in California, the only rare earth mining and processing site of scale in North America. That position gives it a strategic edge at a time when Washington is trying to reduce dependence on Chinese supply chains.
The “Physical AI” theme is also drawing fresh attention to MP’s U.S.-sourced rare earth magnets. As demand for AI hardware and robotics grows, the materials needed to build them are getting more attention from investors.
Strong Q2 Numbers Add Fuel
MP’s second-quarter 2026 results gave the rally something to stand on. Revenue jumped 89% year-over-year and neodymium-praseodymium output rose 51%. Those are hard numbers to ignore.
The company is also pushing downstream into magnet manufacturing and securing defense-linked contracts, which broadens its revenue base beyond raw material extraction.
That said, MP is still burning cash. Heavy capital investment in new facilities means the company has yet to convert higher volumes into steady profits. That remains a watch point for investors.
Technical Picture Improves
On the technical side, MP moved above its 100-day and 200-day simple moving averages Friday. The stock also traded above its 20-day and 50-day averages.
The MACD was above its signal line with a positive histogram, pointing to strengthening buying pressure.
The stock formed a “death cross” back in July when the 50-day moving average crossed below the 200-day. It has since rebounded from its July low. Its 52-week range is $37.81 to $100.25.
Resistance sits near $61, with support around $53.50.
On the analyst side, JPMorgan kept an Overweight rating with a $60 price target on July 29. Needham maintained Buy with a $73 target on July 22. Barclays held Overweight with a $65 target on July 16. The overall consensus is Buy with an average target of $71.79.
MP also has exposure through the VanEck Rare Earth and Strategic Metals ETF (REMX) at a 6.27% weighting and the Sprott Critical Materials ETF (SETM) at 3.19%.
MP stock was up 9.3% at $60.16 at the time of publication Friday.
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