USA Rare Earth
Builds a rare-earth chain from mined feedstock to metals, alloys, and permanent magnets.
Something off on this page? Send us feedback.
Profile
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
Key statistics
Year to date +27.2% · Average volume (30d) 12.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jun 4, 2026 | Cantor Fitzgerald | Target | $35 | $40 | |
| Jun 1, 2026 | Needham | Target | $39 | ||
| May 12, 2026 | Wedbush | Reiterate | Outperform | $29 | $35 |
| Apr 23, 2026 | Northland Securities | Target | $45 | ||
| Apr 21, 2026 | Canaccord Genuity | Reiterate | Buy | $33 | $32 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | −$0.11 | −$0.15 | −33.9% | $8.0M | $5.8M | −27.6% | −0.68% |
| May 13, 2026Q1 FY26 | −$0.16 | −$0.12 | +25.0% | $4.2M | $5.7M | +34.6% | −2.32% |
| Mar 30, 2026Q4 FY25 | −$0.12 | −$0.19 | −58.3% | $3.0M | $1.6M | −44.9% | +6.39% |
| Nov 6, 2025Q3 FY25 | −$0.06 | −$0.25 | −316.7% | — | — | — | +9.73% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $1.6M | $5.7M | $5.8M | |
| Gross profit | −$65.0K | −$272.0K | −$276.0K | −$778.0K | −$2.0M | −$4.1M | |
| Operating income | −$8.7M | −$8.8M | −$15.9M | −$26.1M | −$36.7M | −$46.3M | |
| Net income | $51.8M | −$142.5M | −$156.7M | −$50.2M | −$67.0M | −$10.3M | |
| Diluted EPS | $0.62 | −$1.54 | −$1.64 | −$0.37 | −$0.34 | −$0.05 | |
| Gross margin | — | — | — | -47.4% | -35.1% | -69.8% | |
| Operating margin | — | — | — | -1,589.8% | -643.6% | -795.6% |
Fiscal years (4-quarter sums)FY23 $0 · FY24 $0 · FY25 $1.6M
Revenue by product · FY25
Revenue by geography · Q1 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.59B · Total debt $13.5M · Total assets $3.00B · Shareholders' equity $2.54B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 132.64M · Float —
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Gutnick Mordechai Zev | 15.58M | 6.80% | 13D | Jun 9, 2026 |
| BlackRock, Inc. | 15.56M | 11.73% | 13F | Aug 7, 2026 |
| The Critical Minerals Trust | 13.67M | 16.70% | 13D | Mar 27, 2025 |
| State Street Corp | 13.52M | 10.19% | 13F | Aug 7, 2026 |
| Alyeska Investment Group, L.P. | 11.29M | 8.51% | 13F | Aug 14, 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 |
Peers
- 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
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| USA Rare Earth | $18.04 | +0.22% | $2.39B | — | — | 181.3 | — |
| MP Materials | $56.28 | +0.23% | $9.99B | — | 173.8 | 32.7 | +89.0% |
| Energy Fuels | $14.69 | +0.14% | $3.67B | — | — | 34.7 | +496.1% |
| NeoGenomics | $18.20 | +0.86% | $463.8M | — | 64.9 | 0.6 | +11.2% |
| Median | — | 119.4 | 32.7 | +89.0% |