USA Rare Earth (USAR)
Builds a rare-earth chain from mined feedstock to metals, alloys, and permanent magnets.
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Converts rare-earth oxides into metals, alloys, and strip-cast products through Less Common Metals while scaling sintered-magnet production in Oklahoma and developing Round Top in Texas. Current revenue comes entirely from metal-making; magnet and mineral operations are not yet revenue-producing.
Builds an integrated rare-earth chain spanning oxide separation, metals and alloys, and sintered neodymium-iron-boron permanent magnets. Less Common Metals in the United Kingdom converts oxides into metals, master alloys, and strip-cast products and currently supplies all revenue. Stillwater, Oklahoma, has begun commercial magnet production, while the Wheat Ridge, Colorado, demonstration facility tests separation and magnet-recycling processes.
Controls the Round Top heavy-rare-earth and critical-mineral project in Texas, which remains under development. The platform is expanding through planned metal capacity in France and a metal-and-magnet facility in South Carolina; a proposed combination with Brazil's Serra Verde remains subject to closing conditions. Magnet and mineral operations have not yet generated revenue, and broader execution depends on feedstock, additional capital, project permits, and completion of announced transactions.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 2, 2026 | Jefferies | Initiate | Rating: —Target: — | Target: $21 |
| Jun 4, 2026 | Cantor Fitzgerald | Target | Target: $35 | Target: $40 |
| Jun 1, 2026 | Needham | Target | Target: — | Target: $39 |
| May 12, 2026 | Wedbush | Reiterate | Rating: —Target: $29 | Target: $35 |
| Apr 23, 2026 | Northland Securities | Target | Target: — | Target: $45 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.59B · Total debt $13.5M · Total assets $3.00B · Shareholders' equity $2.54B
- Revenue
- $5.8M
- Operating income
- −$46.3M
- Net income
- −$10.3M
No dividends on record.
| Institutions | ≈ 55.54% | 135.91M shares | |
|---|---|---|---|
| 443 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 1.44% | 3.52M shares | |
| 11 holders · as of Sep 8, 2026 | |||
| Strategic holders | 5.47% | 13.39M shares | |
| 2 holders · as of Mar 14, 2025 | |||
| Other | ≈ 37.55% | 91.90M shares | |
| remainder | |||
244.72M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (244.72M in the company's Sep 23, 2026 report, 132.64M elsewhere); stakes use the report.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 6.36% | 15.56M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.53% | 13.52M | as of Jun 30, 2026 |
Inflection Point Holdings II LLCStrategic10 percent owner, other: See Remarks | 5.11% | 6.25M · 50,000 · 6.20M | filed Mar 14, 2025 |
Alyeska Investment Group, L.P.Institution | 4.61% | 11.29M | as of Jun 30, 2026 |
UBS Group AGInstitution | 3.64% | 8.91M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 8, 2026 | Carolyn Trabuco | director | −13,000 | $22.77 |
| Jan 29, 2026 | Michael Blitzer | director | +100,000 | $21.44 |
| Jan 29, 2026 | Carolyn Trabuco | director | +1,300 | $22.60 |
- MP Materials
U.S. mine-to-magnet peer across NdPr, metal, and magnets
- Energy Fuels
U.S. monazite processor for NdPr and heavy oxides
- NeoGenomics
Rare-earth powders, metals, and magnets supplier
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| USA Rare Earth | $16.22 | −4.56% | $2.25B | — | — | 171.2 | — |
| MP Materials | $49.57 | −2.88% | $9.09B | — | 150.4 | 29.8 | +89.0% |
| Energy Fuels | $11.73 | −3.42% | $3.03B | — | — | 28.7 | +496.1% |
| NeoGenomics | $18.81 | −0.40% | $485.4M | — | 67.7 | 0.6 | +11.2% |
| Median | — | 109.0 | 28.7 | +89.0% |