Core Viewpoint - MP Materials' recent stock pullback presents a potential buying opportunity for long-term investors in the context of the U.S. supply chain for rare earth elements [1] Company Overview - MP Materials is the only owner and operator of a scalable rare earth mine in the U.S., specifically the Mountain Pass mine in California [2] - The company received a $400 million investment from the Department of Defense (DOD) to expand its magnet factories, which led to a significant increase in stock price [2] Stock Performance - Current stock price is $61.20, with a market cap of $11 billion [3] - The stock has seen a 52-week range from $15.56 to $100.25, indicating significant volatility [3] - Following the DOD investment, shares peaked at $100 but have since dropped below $60, raising questions about potential buying opportunities [3] Future Prospects - MP Materials is expected to benefit from several tailwinds leading into 2026, including support from the DOD and partnerships with major companies like Apple [3] - The company plans to begin shipping U.S.-made NdFeB permanent magnets by the end of the year, marking a significant shift in the magnet supply chain previously dominated by China [4] Revenue Growth - Recent financial performance showed a smaller-than-expected loss and record output of NdPr-oxide, along with nearly $22 million in magnet precursor revenue [6] - The company plans to commission a heavy rare-earth separation facility in mid-2026, which will enable the production of essential metals like dysprosium and terbium [6] Investment Considerations - While there are growth prospects, the company faces challenges in expanding its magnet manufacturing capacity, which is crucial for profitability [7] - If MP Materials meets its milestones and continues to receive government support, purchasing shares under $65 could be a strategic entry point for investors [7]