MP Materials (MP) Announces Increase to its Share Repurchase Program

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Go back to MP Materials (MP) Announces Increase to its Share Repurchase Program

MP Materials Announces Increase to its Share Repurchase Program

September 3, 2024 9:00 AM EDT

LAS VEGAS--(BUSINESS WIRE)-- MP Materials Corp. (NYSE: MP) (MP Materials or the Company) today announced that its Board of Directors has approved a $300 million increase to the Companys existing share repurchase program, bringing the total authorized amount to $600 million. The share repurchase program has also been extended and is now effective until August 30, 2026.

Subsequent to the most recent earnings announcement on August 1, 2024, MP Materials repurchased 1.4% of the Company, or approximately 2.2 million shares, at an average price of $10.84. Together with repurchases made in March, MP Materials has now repurchased approximately 8.6% of the... More