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

Reuters · 08/01 20:12

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

Aug 1 (Reuters) - U.S. rare earths producer MP Materials MP.N 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 loss of $34.1 million, or 21 cents per share, compared to a profit of $7.4 million, or 9 cents per share, in the year-ago quarter.

(Reporting by Ernest Scheyder
Editing by Chris Reese)

((ernest.scheyder@thomsonreuters.com; Twitter: @ErnestScheyder; +1-713-210-8512; Reuters Messaging: ernest.scheyder.thomsonreuters.com@reuters.))

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