MP Materials Corp (NYSE:MP) shares are rising on Friday after initially trading lower following the company’s mixed third-quarter financial results.

What Happened: MP Materials reported a loss of 10 cents per share versus estimates for a loss of 18 cents per share and a loss of 12 cents per share in the same period last year, representing a 16.67% increase in losses year over year.

The company reported quarterly sales of $53.6 million, versus the analyst consensus estimate of $54.92 million. This represents a 14.90% drop when compared to sales of $62.93 million in the same period last year.

MP produced a record 721 metric tons of NdPr, up 51% year over year, and delivered its second-best REO output at 13,254 metric tons. The company generated revenue of $53.6 million during the quarter.

The Magnetics Segment grew, bringing in $21.9 million in revenue and $9.5 million in adjusted EBITDA. MP expects to be profitable again starting in fourth-quarter of 2025.

“This performance underscores the momentum we are building at a pivotal time for our Company and Country,” said James Litinsky, founder, chairman and CEO of MP Materials. With key portions of our agreements with the Department of War [Defense] commencing in the current quarter, we now have enhanced cash flow visibility to accelerate scaled magnet production in the United States -- beginning with first commercial output from Independence by year-end.”

MP plans to start up its new heavy rare earth facility at Mountain Pass in mid-2026. It will process about 3,000 metric tons of feedstock per year, focusing first on dysprosium (Dy) and terbium (Tb).

MP's new facility will also process third-party feedstocks. After starting with dysprosium and terbium, the company plans to produce more heavy rare earths, beginning with samarium (Sm), as part of its agreement with the Department of Defense.

Following the news, DA Davidson analyst Matt Summerville maintained a Buy rating on the company and reiterated his $82 price target.

MP Price Action: MP Materials shares were up 9.27% at $56.81 at the time of publication on Friday, according to Benzinga Pro.

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