Goldman Sachs Initiates Buy Rating on MP Materials, Citing Strategic Rare-Earth Deals
MP Materials shares surged nearly 10% after Goldman Sachs initiated coverage with a Buy rating and a $77 price target. The bank highlighted the Las Vegas-based company's dominance as North America's largest rare-earth miner, bolstered by a Pentagon supply agreement that includes government equity, price floors, and guaranteed offtake.
A new Saudi joint venture with Maaden and the U.S. Defense Department further amplifies MP's strategic position. The partnership focuses on refining critical minerals used in EVs, defense systems, and consumer electronics—sectors increasingly intertwined with blockchain infrastructure demands.