BMO Capital has upgraded MP Materials Corp (MP) to Outperform from Market Perform, a move that reflects a more optimistic outlook on the company's prospects. The change in rating, effective November 23, 2025, comes as MP Materials continues to engage in the production and marketing of rare earth specialty materials. Currently, shares are priced at $59.04.
Headquartered in Las Vegas, Nevada, MP Materials operates the Mountain Pass Rare Earth Mine and Processing Facility in California. The company is also developing a manufacturing facility for rare earth metals, alloys, and magnets in Fort Worth, Texas. It primarily generates revenue from sales of rare earth concentrate and neodymium-praseodymium (NdPr) oxide and metal, with its main customers located in Asia.
The firm has a market capitalization of $10.0 billion and a trailing twelve-month EPS of -0.70. Upcoming earnings reports are anticipated on May 6, 2026, with an estimated EPS of $0.11, and August 5, 2026, with an estimated EPS of $0.12. Recent earnings performance has shown positive surprises, with Q3 2025 reporting an EPS of -0.10 against estimates of -0.18, marking a 45.1% surprise.
Analyst consensus currently stands at Buy, with 7 Strong Buy, 9 Buy, and 6 Hold ratings among 22 analysts. Recent upgrades from other firms include JP Morgan, which moved to Overweight from Neutral, and Deutsche Bank, which upgraded to Buy from Hold. Such decisions reflect a growing confidence in MP Materials' strategic direction and business fundamentals.