MP Materials said on Wednesday it would sell $500 million of its common stock, a day after the U.S. rare earths miner inked a supply deal with Apple .

Shares of USA Rare Earth stock are down 7.1% through 1:55 p.m. ET Wednesday, and the reason is simple: USA Rare Earth is not MP Materials. Not even close.

Company’s stock rallies on U.S. support to build the 10X Facility as its second domestic magnet-manufacturing plant

In 2025, the U.S. Department of Defense (DoD) agreed to buy $400 million of preferred stock in MP Materials. This investment supports the expansion of its processing capacity and the construction of a second magnet manufacturing facility in the U.S. to supply key components to military weapons systems.

MP Materials is America’s only fully integrated rare earth producer with capabilities ranging from mining to end products. Learn more about MP stock here.

An Historic Public-Private Partnership The U.S. Defense Dept. announced yesterday it was making a multibillion-dollar investment in MP Materials (NYSE:MP), the sole operator of the rare earth mineral mine in California.

Shares of rare-earth miner MP Materials have left Wall Street in the dust. One analyst is playing catch-up.