On October 12, MP Materials Corp. fell 5.1% in regular trading, trading at $43.7097/share, with Turnover of $51.334 million.
The decline followed Deutsche Bank lowering its price target on the rare earth producer to $53 from $58 while maintaining a Buy rating, marking the second consecutive reduction after an earlier cut from $61 to $58 in August. Concurrently, Morgan Stanley trimmed its target to $66 from $73, further pressuring sentiment.
Within the Diversified Metals & Mining sector, USA Rare Earth fell 4.38%, Almonty Industries declined 5.31%, Rio Tinto slipped 0.4%, BHP Billiton edged down 0.02%, and Teck Resources lost 1.06%, reflecting broad-based weakness that amplified selling pressure on MP Materials Corp.
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