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USA Rare Earth Inc. (NASDAQ:USAR) is one of the 10 Stocks Delivering Eye-Popping Gains.

Shares in USA Rare Earth jumped by 17.88 percent on Thursday to close at $25.97 apiece, as investors positioned portfolios in high-growth stocks, supported by a broader market optimism.

USA Rare Earth Inc. (NASDAQ:USAR) mirrored the rally in the wider market during the day, with the Dow Jones and the S&P 500 both clocking more than 1 percent gains. The Nasdaq, on the other hand, rose by 0.89 percent.

USA Rare Earth

USA Rare Earth’s magnet facility in Stillwater, Oklahoma. Photo from the USA Rare Earth website

Further buoying sentiment was recent news that it successfully acquired a rare earth miner for $2.8 billion.

According to USA Rare Earth Inc. (NASDAQ:USAR) it inked a definitive agreement with Serra Verde Group for the acquisition of its entire stake for a combination of cash and stock transaction.

Serra Verde, which owns the Pela Ema rare earth mine and processing plant in Goiás, Brazil, will be acquired for $300 million in cash and more than 126.8 million USAR shares.

The transaction is expected to close in the third quarter of the year, subject to customary closing conditions and regulatory approvals.

“The acquisition of Serra Verde represents a transformational step in delivering on our ambition to build a global champion and the partner of choice in rare earth elements, oxides, metals and magnets,” USA Rare Earth Inc. (NASDAQ:USAR) CEO Barbara Humpton said, noting that Serra Verde is the only producer outside Asia capable of supplying all four magnetic rare earths at scale, including Dysprosium, Yttrium, and Terbium.

“By combining Serra Verde’s world-class operations and team with our processing, separation, metallization, and magnet-making capabilities, we are advancing our goal of creating a fully integrated platform that will serve as a cornerstone of global rare earth supply security for decades to come,” she added.

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