USA Rare Earth (USAR) Climbs to New High on Talks with US Govt

We recently published 10 Stocks With Eye-Popping Double-Digit Gains. ABCUSA Rare Earth, Inc. (NASDAQ:USAR) is one of the top performers on Friday.

USA Rare Earth soared to a new all-time high on Friday, jumping 14.31 percent to finish at $25.96 apiece as investors continued to gobble up shares following the company’s confirmation of talks with the Trump administration for a potential partnership.

In intra-day trading, USA Rare Earth, Inc. (NASDAQ:USAR) hit a new 52-week high of $28.25, but pared gains toward the close, just up by 14.31 percent at $25.96 apiece.

This followed a television interview with USA Rare Earth, Inc. (NASDAQ:USAR) Chief Executive Officer Barbara Humpton earlier this week, saying that the company was “in close communication” with the White House, and keeping it informed of its own plans.

This followed the latter’s 5-percent investment in Lithium Americas earlier this week, and another 5 percent in its flagship Thacker Pass lithium project in Nevada. In July, the government also acquired a 15 percent investment in rare earth miner, MP Materials.

“This (rare earth supply chain) is a field where it will not be a zero-sum game,” Humpton said, adding that it’s going to take a lot of players to build out the marketplace.

USA Rare Earth, Inc. (NASDAQ:USAR) is currently developing a mine site in Sierra Blanca, Texas, and a magnet production facility in Stillwater, Oklahoma.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.