(Bloomberg) — Rare earth miners and uranium producers are reaping rewards from the flood of money pouring into electrification and ESG investing themes. Lithium producers have been more traditional beneficiaries of EV and the green energy push. But more recently, rare earth producers have also started to garner investors attention amid enthusiasm about electric vehicles.
Shares of MP Materials Corp., the largest U.S. based miner of rare earths, is up more than fourfold since Biden won the election four months ago, compared with an 86% gain in VanEck Vectors Rare Earth/Strategic Metals ETF.
Shares in the company, which went public via a SPAC deal in July, rose for a third day and were up 0.7% to $49.8 on Wednesday. Morgan Stanley initiated research on the stock on Tuesday, with a price target of $57.
MP is “a play on accelerating adoption of electric vehicles and electrification trends in wind turbines,” Morgan Stanley […]
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