Should You Buy MP Materials Stock While It's Below $50?

MP Materials (NYSE: MP) is a mining company with ambitions to become America's rare earth champion. For almost a decade, it has taken a formerly idle mine at Mountain Pass, California, and turned it into the only large-scale rare earth mining site in the United States.The final product of this mine, forged from the refined rare earth elements extracted from it, is a tiny but critical magnet that keeps our modern world humming. Call them what you want -- the technical term is neodymium-iron-boron (NdFeB) magnets -- but they are found in everything from smartphones to electric vehicle (EV) motors to MRI machines.The sheer ubiquity of these magnets, coupled with the uncommon mine-to-magnet operation that defines MP's business, has made this rare-earth miner's stock an interesting play on the supply chain of homegrown metals. The mining stock, however, trades at nearly 1,430 times forward earnings and 37 times sales. It's not cheap, even after its share price nosedived about 50% from all-time highs last October.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool