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USA Rare Earth Inc (NASDAQ: USAR) is a U.S.-based company developing a vertically integrated supply chain for rare earth magnets and critical minerals. Headquartered in Stillwater, Oklahoma, the company holds mining rights to the Round Top heavy rare earth deposit in Hudspeth County, Texas, and is constructing a sintered neodymium magnet facility in Oklahoma. On October 13, 2025, USAR shares closed at $41.80, reflecting a 28.18% increase for the day on a trading volume of 18.6 million shares.
Corporate Structure and Leadership
Founded in May 2019, USA Rare Earth employs between 11 and 50 staff across its Oklahoma, Texas, and Colorado locations. On October 1, 2025, Barbara W. Humpton, previously President and CEO of Siemens USA, assumed the role of Chief Executive Officer. The company emphasizes end-to-end “mine-to-magnet” integration, which includes:
- A Round Top deposit processing facility in Wheat Ridge, Colorado, focusing on proprietary Continuous Ion Exchange separation technology.
- A sintered magnet plant in Stillwater, Oklahoma, with a planned capacity of 5,000 metric tons annually, scheduled for commercial operation in the first half of 2026.
- Research and prototyping activities in an Innovations Lab expected to become operational in Q1 2025.
Rare earth magnets by Avonlea Jewelry
Recent Developments and News
On September 25, 2025, USA Rare Earth entered into a definitive agreement to acquire Less Common Metals Limited (LCM), a U.K.–based producer of rare earth alloys and strip-cast metals. This acquisition aims to bolster midstream capabilities and complements the company’s strategy to supply magnets to markets including electric vehicles, defense, robotics, and wind power.
In its S-1 registration filed on October 6, 2025, USAR disclosed plans for an initial public offering intended to raise growth capital, detailing historical financial losses, infrastructure expenditures, and associated risks within geopolitical supply chains. A prospectus supplement filed on September 29, 2025, noted a private placement of common stock and warrants, with the closing stock price at $17.33 per share as of September 26.
Financial and Strategic Analysis
As of October 13, 2025, USA Rare Earth’s intraday market capitalization was approximately $4.8 billion. Key metrics from Yahoo Finance include:
- 52-week range: $5.56–43.98
- Beta (5Y Monthly): 0.77
- TTM EPS: –$0.79
- Total cash (MRQ): $121.8 million
- Enterprise value/EBITDA: 28.0
The company reported a net loss of $107.5 million over the trailing twelve months, primarily due to exploration and plant construction costs. Strategic goals focus on reducing U.S. reliance on foreign rare earth sources by reshoring mining, processing, and magnet manufacturing. The acquisition of LCM is expected to enhance metal alloy supply, while in-house research and development aims to improve extraction and separation processes.
Market Position and Industry Context
Globally, the United States accounts for approximately 16% of rare earth mining production but none of global refining or magnet manufacturing. China controls over 90% of permanent magnet output. USA Rare Earth's vertically integrated model is designed to capture value across the supply chain, from ore extraction at Round Top to sintered magnet production in Oklahoma. The company faces competition from established mining firms, overseas refiners, and emerging U.S. projects that may benefit from government incentives related to national security and critical minerals.
tl;dr
USAR shares increased by 28.18% on October 13, 2025, closing at $41.80. On September 25, 2025, the company agreed to acquire Less Common Metals Limited to enhance rare earth alloy production. CEO Barbara Humpton took charge on October 1, 2025. An S-1 registration was filed on October 6, 2025, outlining plans for capital raising and infrastructure investments. Commercial magnet output is targeted for the first half of 2026, with an emphasis on reducing U.S. dependence on foreign rare earth supplies.
