Billionaire Lee Cooperman’s Top 15 Long-Term Stock Picks

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11. MP Materials Corp. (NYSE:MP)

Number of Hedge Fund Holders: 27  

Omega Advisors’ Stake: $61.2 million

MP Materials Corp. (NYSE:MP) produces specialty materials that are vital inputs for electrification and other advanced technologies. This company stands out as a prime investment opportunity due to multiple factors. Firstly, the improved financial growth, as illustrated in the report for the third quarter of 2024, shows a promising picture. For instance, the reported revenue increased 20% year-over-year to $62.9 million, and record Real Estate Owned (REO) production of 13,742 metric tons showed a 28% increase year-over-year.  Also, sales volumes nearly tripled sequentially to 404 metric tons. Secondly, the company also received a $58.5 million award to advance its construction of America’s first fully integrated rare earth magnet manufacturing facility. This would help commence commercial production of precursor materials in the summer of 2024, with finished magnets anticipated by late 2025.

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