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USA Rare Earth
(NASDAQ:USAR)
USA Rare Earth (USAR) vs. SPDR S&P 500 ETF (SPY)
USA Rare Earth Business Overview & Revenue Model
USA Rare Earth Earnings Call Summary
USA Rare Earth Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 317.88M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 257.30M | 0.00 | 0.00 | 0.00 |
| EBITDA | -24.39M | 0.00 | 7.93M | -23.59M |
| Net Income | -246.03M | 8.80M | 6.75M | -23.84M |
Balance Sheet | ||||
| Total Assets | 323.32M | 24.14M | 259.47M | 5.79B |
| Cash, Cash Equivalents and Short-Term Investments | 257.61M | 2.10K | 275.67K | 0.00 |
| Total Debt | 14.80M | 0.00 | 0.00 | 3.36B |
| Total Liabilities | 373.71M | 17.09M | 13.41M | 3.60B |
| Stockholders Equity | 2.07B | 24.14M | 246.06M | 2.19B |
Cash Flow | ||||
| Free Cash Flow | 153.68M | -1.40M | -1.14K | -19.91M |
| Operating Cash Flow | 201.87M | -1.40M | -1.14K | -14.80M |
| Investing Cash Flow | 236.77M | 246.92M | -251.25M | -15.15M |
| Financing Cash Flow | -80.68M | -245.79M | 302.97K | 22.26M |
USA Rare Earth Risk Analysis
USA Rare Earth Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $3.88B | -2.81 | -45.84% | ― | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | $399.08M | -11.63 | -46.98% | ― | 821.40% | 44.70% | |
54 Neutral | $9.43B | -100.09 | -5.04% | ― | 26.44% | -95.87% | |
50 Neutral | $740.90M | -5.12 | -22.22% | 1.17% | -16.89% | -403.77% | |
42 Neutral | $855.89M | -0.87 | -35.30% | ― | ― | -18.77% |
USA Rare Earth Corporate Events
On March 12, 2026, USA Rare Earth, Inc. announced the appointment of semiconductor veteran Dr. Thomas Caulfield to its board of directors, effective March 9, 2026, succeeding Tready A. Smith after her five years of service, with the board remaining at eight members. The company also disclosed that its first annual meeting of shareholders will be held on June 3, 2026, with shareholder proposals for inclusion in proxy materials due by April 1, 2026, under SEC Rule 14a-8.
Caulfield, executive chairman and former CEO of GlobalFoundries, brings deep experience in scaling complex manufacturing, capital markets, and global operations at major technology firms, bolstering USAR’s governance as it builds out its mine-to-magnet platform. His appointment follows a rapid series of strategic moves, including a January letter of intent for $1.6 billion in potential U.S. government funding alongside $1.5 billion in private capital and a definitive agreement to become sole operator and 100% economic beneficiary of the Round Top rare earths project, underscoring USAR’s ambition to secure a leading role in Western critical minerals supply chains.
The most recent analyst rating on (USAR) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on USA Rare Earth stock, see the USAR Stock Forecast page.
On March 4, 2026, USA Rare Earth agreed to acquire all outstanding shares of Texas Mineral Resources in an all-stock deal valued at about $73 million, issuing 3,823,328 USAR shares and consolidating full ownership and economics of the Round Top heavy rare earth and critical minerals project. The transaction, announced March 5, 2026 and expected to close by the third quarter of 2026 subject to customary approvals including a TMRC shareholder vote, simplifies governance, secures lease and prospecting rights over more than 10,000 acres, and strengthens USAR’s bid to build a non‑China, mine-to-magnet supply chain that supports U.S. defense and advanced manufacturing while enhancing liquidity and diversification for TMRC investors.
Under USAR’s Accelerated Mining Plan, Round Top on Texas state land is slated to feed roughly 40,000 metric tons per day of rare earth and critical mineral ore into a vertically integrated network of processing, metal-making and magnet facilities, and the deal gives USAR 100% control to align capital planning, engineering and execution. The boards of both companies have approved the merger, TMRC’s directors and executives holding about 19% of the stock have signed voting support agreements, and Texas officials highlighted potential benefits for local jobs, state school funding and U.S. efforts to reduce dependence on Chinese rare earth supply, although completion remains contingent on regulatory clearances and closing conditions.
The most recent analyst rating on (USAR) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on USA Rare Earth stock, see the USAR Stock Forecast page.
On February 26, 2026, USA Rare Earth, Inc. announced that it is posting a new investor presentation on the investor relations section of its corporate website, making updated company information available to current and prospective shareholders. The company specified that the presentation, disclosed via a Current Report on Form 8-K, is being furnished rather than filed under U.S. securities laws, signaling a compliance-focused approach that limits related legal liabilities while still enhancing transparency for market participants.
The most recent analyst rating on (USAR) stock is a Buy with a $35.00 price target. To see the full list of analyst forecasts on USA Rare Earth stock, see the USAR Stock Forecast page.
On January 26, 2026, USA Rare Earth announced a non-binding letter of intent with the U.S. Department of Commerce’s CHIPS Program for an expected $1.6 billion package comprising $277 million in proposed federal funding and a proposed $1.3 billion senior secured loan, alongside a collaboration agreement in principle with the Department of Energy’s National Energy Technology Laboratory to advance heavy rare earth separation technologies using digital twin tools. As part of the contemplated CHIPS transaction, the company would issue roughly 16.1 million shares of common stock and about 17.6 million warrants to the U.S. government, which could ultimately own 8%–16% of USA Rare Earth on a fully diluted basis, while funding would be released in phases tied to stringent milestones for developing the Round Top mine, processing and separation facilities, metal and strip-casting capacity, and expanded magnet manufacturing, and the company must still secure an estimated $4.1 billion of additional capex and a $250 million revolving credit facility. On the same date, USA Rare Earth entered into a private securities purchase agreement for a $1.5 billion PIPE, issuing about 69.8 million common shares at $21.50 per share in a Section 4(a)(2) private placement expected to close January 28, 2026, with proceeds earmarked for general corporate purposes; in parallel, it amended existing warrants and its Series A preferred stock terms so that any future “Government Financing” would not trigger exercise price or conversion price adjustments, thereby preserving economic terms for existing security holders while enabling large-scale federal participation. Collectively, the prospective CHIPS funding, DOE collaboration and substantial private capital injection are intended to accelerate USA Rare Earth’s build-out of what it describes as the largest U.S. heavy rare earth and NdFeB magnet production platform by 2030, though the company underscores significant execution, financing, regulatory and dilution risks, including the possibility that government funding may be reduced, delayed, clawed back, or never finalized, and that the government’s equity stake and extensive covenants could materially affect existing investors’ rights, capital structure flexibility and long-term strategic options.
The most recent analyst rating on (USAR) stock is a Hold with a $25.00 price target. To see the full list of analyst forecasts on USA Rare Earth stock, see the USAR Stock Forecast page.