MP Materials soared 50.62 percent on Thursday to hit a new high after sealing a multi-billion-dollar deal with the Department of Defense (DOD) to ramp up the production of rare earth minerals in the

MP Materials (MP) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

An Historic Public-Private Partnership The U.S. Defense Dept. announced yesterday it was making a multibillion-dollar investment in MP Materials (NYSE:MP), the sole operator of the rare earth mineral mine in California.

As of 10:17 a.m. ET on Friday, shares of MP Materials stock had climbed 6.5%.

MP Materials Corp. (NYSE: MP) ("MP Materials" or the "Company") today announced it has entered into a transformational public-private partnership with the United States Department of Defense ("DoD") to dramatically accelerate the build-out of an end-to-end U.

The Pentagon is buying a huge stake in America’s only rare earth mine to secure weapons supplies. On Thursday, the United States Department of Defense (DOD) entered a major deal with MP Materials. The DOD agreed to buy $400 million of MP Materials newly created preferred shares stock.

According to the agreement, the Department of Defense will purchase $400 million of a newly created series of preferred stock that's convertible into shares of the MP Materials common stock as well as a warrant permitting the Department of Defense to acquire additional shares of common stock.