We report the observation of an extreme magnetoresistance (XMR) in HoBi with a large magnetic moment from Ho f-electrons. Neutron scattering is used to determine the magnetic wave vectors across several metamagnetic (MM) transitions on the phase diagram of HoBi. Unlike other magnetic rare-earth monopnictides, the field dependence of resistivity in HoBi is non-monotonic and reveals clear signatures of every metamagnetic transition in the low-temperature and low-field regime, at T < 2 K and H < 2.3 T. The XMR appears at H > 2.3 T after all the metamagnetic transitions are complete and the system is spin-polarized by the external magnetic field. The existence of an onset field for XMR and the intimate connection between magnetism and transport in HoBi are unprecedented among the magnetic rare-earth monopnictides. Therefore, HoBi provides a unique opportunity to understand the electrical transport in magnetic XMR semimetals.
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