Shares of MP Materials (NYSE: MP), America’s biggest pure play on mining rare earths, soared nearly 12% in early trading Friday after beating earnings (sort of) last night. It’s since given back much of its gains, but as of 2:25 p.m. ET is still up 4.1%.
Analysts forecast MP would lose $0.20 per share on second-quarter sales of $45.6 million. In fact, the company lost only $0.13 per share (hence “beating” earnings), and reported $57.4 million in sales.
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