Company Overview: MP Materials Corp. is a producer of rare earth materials in the western hemisphere. The Company owns and operates the mountain pass rare earth mine and processing facility in California in North America's rare earth production site. Processing Facility (Mountain Pass), which is a rare earth mining and processing site of scale in the western hemisphere.

As per our previous report published on MP Materials Corp on 18^th January 2023, Kalkine provided a ‘Buy’ stance on the stock at USD 29.71 based on “impressive margin profile, Higher ROE, upside indicated by valuation, Technical levels and Key risks associated’, and the stock price has now moved by ~17.5%%% since then and the stock has now moved above R1 mentioned in the report. 

Noted below are the details of support and resistance levels provided in our previous report:

MP’s Daily Chart

Considering the target level attainment, technical resistance near current levels, uncertainties hovering around the broader economy, supply chain bottlenecks on the back of Russia- Ukraine stand-off, a ‘Sell’ rating is assigned to “MP” stock at the current market price of USD 34.92 (as of February 02, 2023, at 07:48 AM PST)  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is February 02, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’