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MP Materials (MP, Financials) jumped 19.5% to hit a 52-week high of $27.36, pushing its year-to-date gain to 45.3%. The stock has now climbed nearly 64% over the past year, as investors grow more bullish on the company's role in the U.S. rare earth supply chain.
The rally follows fresh export controls from China on rare earth materials, sparking renewed attention on domestic producers. MP Materials said it's well-positioned to support U.S. efforts to secure independent access to these critical inputs used in everything from smartphones and wind turbines to electric vehicles and defense systems.
The company also named David G. Infuso as its new chief accounting officer. Infuso, who brings 17 years of experience, replaces Ryan Corbett, who stays on as chief financial officer. Infuso's base salary is $315,000, with eligibility for equity compensation.
Canaccord Genuity reaffirmed its Buy rating with a $26 price target, while BMO Capital Markets bumped its target from $22 to $29, citing the company's rising strategic relevance amid geopolitical tensions.
This article first appeared on GuruFocus.