Shares of MP Materials (NYSE: MP), a miner of rare-earth metals, jumped out of bed on the NYSE today — and stayed up. As of 2:10 p.m. EDT, the stock retains a 9.6% gain.
Why? MP Materials crushed earnings estimates for its fiscal fourth quarter 2020. Reporting last night, the company said it earned $0.20 per share — 10 times its per-share earnings of one year ago, and four times the $0.05 per share that analysts had forecast.