MP Materials swings to quarterly loss on sliding prices for rare earths-February 2024-www.financetom.com

MP Materials swings to quarterly loss on sliding prices for rare earths

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MP Materials swings to quarterly loss on sliding prices for rare earths

Aug 1, 2024 1:36 PM

Aug 1 (Reuters) - U.S. rare earths producer MP Materials ( MP )

said on Thursday it swung to a loss in the second quarter

due to falling prices for the strategic minerals and operational

challenges.

The Las Vegas-based company posted a net loss of $34.1

million, or 21 cents per share, compared to a net profit of $7.4

million, or 9 cents per share, in the year-ago quarter.

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