MP Materials swings to quarterly loss on sliding prices for rare earths

(Reuters) – U.S. rare earths producer MP Materials said on Thursday it swung to a loss in the second quarter due to falling prices for the strategic minerals and operational challenges.

The Las Vegas-based company posted a net loss of $34.1 million, or 21 cents per share, compared to a net profit of $7.4 million, or 9 cents per share, in the year-ago quarter.

(Reporting by Ernest Scheyder; Editing by Chris Reese)