USA Rare Earth (USAR) Soars to All-Time High as Firm Confirms Talks with Trump Admin

We recently published 10 Stocks With Double-Digit Upsides. USA Rare Earth, Inc. is one of the top performers on Thursday.

USA Rare Earth soared to a new all-time high on Thursday as investors repositioned portfolios after confirming talks with the US government for a potential partnership.

During the trading session, USA Rare Earth, Inc. soared to its highest 52-week price of $23.35 before paring gains to end the day just up by 23.36 percent at $22.71 apiece.

According to a report by CNBC quoting CEO Barbara Humpton, USA Rare Earth, Inc.  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. is currently developing a mine site in Sierra Blanca, Texas, and a magnet production facility in Stillwater, Oklahoma.

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This article is originally published at Insider Monkey.