MP - This Rare Earths Stock Looks Absurdly Cheap
Even on a green day for the stock market, rare earth metals mining company MP Materials (NYSE: MP) had an uncommonly fantastic Friday.
After reporting earnings for fiscal Q3 the previous evening, MP stock soared 8.7% when markets reopened as investors cheered MP's beating analyst targets on both top and bottom lines. Where Wall Street had predicted MP would earn $0.30 per share (pro forma), the company reported a 20% beat -- $0.36 per share. And where the Street had forecast sales of only $116.8 million, MP delivered $124.4 million -- six and a half percent better than expected.
And even then, the good numbers were just getting started.
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This Rare Earths Stock Looks Absurdly Cheap