MP Materials (MP) has rallied about 10% since their Q2 earnings and a new supply agreement announcement. They signed a long-term deal with an unnamed U.S. aerospace and defense customer for separated gadolinium. Right now, 87% of their revenue comes from NdPr oxide and metal, so this new contract helps them diversify their rare-earth products. Q2 revenue jumped 89% driven by strong NdPr sales, but they still took a $2.1 million net loss for the quarter. They already have large-scale deals with Apple and the DoD to onshore rare-earth magnet production. The stock is still down 25% over the past year, so execution on these contracts will be the main thing to watch.