The Latest Breaking News from MP

Mp Materials Corp (NYSE:MP) has signed a definitive supply agreement with General Motor Co (NYSE:GM) to produce alloy and magnets for the automotive giant's EV programs. The financial terms were not disclosed. Under the long-term agreement, MP Materials will supply U.S.-sourced and manufactured rare earth materials, alloy, and finished magnets for the electric motors. MP Materials' Texas…

Someone with a lot of money to spend has taken a bullish stance on MP Materials (NYSE:MP). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Commodity prices have soared so far in 2022 as the combination of U.S. dollar inflation, stock market instability, supply chain disruptions and geopolitical conflict has driven demand for gold, silver, copper and other metals.

“2021 was a banner year for MP Materials, headlined by record annual production,” said MP Materials CEO James H. Litinsky.

MP Materials (NYSE:MP) reported its Q4 earnings results on Thursday, February 24, 2022 at 04:05 PM. Here's what investors need to know about the announcement. Earnings MP Materials beat estimated earnings by 40.91%, reporting an EPS of $0.31 versus an estimate of $0.22.

Alexander Smolyar will move to MP Motorsport for the 2022 FIA Formula 3 season after splitting from ART Grand Prix.