Metals and mining companies including MP Materials Corp (NYSE:MP) and The Metals Company Inc (NASDAQ:TMC) are moving sharply higher Monday morning following reports that the Trump administration plans to stockpile deep-sea metals to counter China.
In this brief market report, we will take a look at the various asset classes, sectors, equity categories, ETFs, and stocks that moved the market higher, as well as the market segments that defied the trend by moving lower.
The Las Vegas, Nevada-headquartered company produced 11,478 metric tons of rare earth oxides during the quarter despite disruptions caused due to maintenance shutdowns.
MP Materials has beaten revenue and earnings expectations in two of the previous four quarters. It owns and operates the Mountain Pass mine in California, the only operational rare earth mine and processing facility in the U.S.
The China ban on rare earth minerals is causing the United States to bolster their supply chain. These stocks can benefit and help their prices as well.
China flexed its dominance by banning certain rare earth elements for export to the United States, but some companies may actually benefit from the decision.
