On September 21, USA Rare Earth Inc. rose 8.07% in pre-market trading to $16.70 per share, with turnover of approximately $8.35 million.
The rally extends a string of strategic catalysts in September. Most recently, the company announced a collaboration with Pasqal and Riven Systems to develop next-generation rare earth separation technologies using quantum machine learning, targeting feedstocks from its Round Top deposit in Texas, recycled magnets, and third-party supplies to lower processing costs.
This follows the completion of a $2.8 billion cash-and-stock acquisition of Serra Verde Group on September 4, which adds production capacity targeting approximately 6,400 tons per year of rare earth oxide output by late next year. On September 9, the company broke ground on an $1.2 billion, 800,000-square-foot manufacturing facility in South Carolina. The company also benefits from up to $1.6 billion in U.S. Commerce Department funding and strong analyst sentiment, with a consensus Buy rating and a mean price target of $35.75.
Within the Diversified Metals and Mining sector, MP Materials Corp. rose 3.13%, Teck Resources rose 2.56%, HudBay Minerals rose 1.52%, and BHP Billiton rose 1.30%.
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