10 Best Electric Vehicle Supply Chain Stocks to Buy Right Now

6. MP Materials Corp. (NYSE:MP)

 Number of Hedge Fund Holders: 40

Market Cap: $11.07 billion

MP Materials Corp. (NYSE:MP) is one of the best electric vehicle supply chain stocks to buy right now. On September 2, DA Davidson maintained its Buy rating on rare earth mining company MP Materials Corp. (NYSE:MP), while increasing its 12-month price target from $32 to $82. As of September 5, the stock was trading at $62.75, giving it an implied upside of 30.68%.

The firm cited the company’s Q2 results, including the announcement of the Department of Defense agreement, which includes a floor price deal for all NdPr products. NdPr is a blend of neodymium (Nd) and praseodymium (Pr). These are 2 rare earth materials. NdPr is MP Materials’ key product and is one of the most strategically significant materials in the modern electrification economy. DA Davidson added that the NdPr output continues to increase gradually, with the output near a record level.

The company reported a 283% jump in NdPr revenue in Q2 2025, driven by a 226% increase in sales volume and higher prices. MP Materials said that it has halted sales to China in order to focus on building a U.S. rare earth supply chain. Rising NdPr output and pricing are expected to boost future revenues, reinforcing its strategic role in the domestic EV and defense industries.

Wall Street analysts expect the company’s revenue to grow at an average annual compounded rate of 36.13% over the next five years, and they expect the company to be profitable by next year.