USAR
USA Rare Earth, Inc.

USA Rare Earth, Inc.USAR

Basic Materials · Other Industrial Metals & Mining
8.23USD
+10.92%
Nov 08, 2026
USAR overview ready
Integrated Western Rare Earth Mine-to-Magnet Supplier
USAR is building an integrated Western mine-to-magnet platform: it has commissioned an initial commercial sintered NdFeB magnet-production line in Stillwater, Oklahoma; operates rare-earth processing and recycling development work in Colorado; and is advancing the Round Top heavy-rare-earth and critical-minerals project in Texas.
Primary theme is lagging
Critical Materials is lagging (-15.2pp vs SPY over 21 sessions; 0 of 14 members ahead of SPY).
Price trend is broken
Longer-term context reads new trend, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of the cash it currently generates.
Fundamentals not measured
Primary risk
Project development and execution risk at Round Top Mountain.
Market Nov 6Filing Jun 30Price action Nov 7Research Aug 9

Conviction Level

PriceAction1.4BusinessPerformance—BusinessQuality—Valuation0.3ThemeMomentum1.0A revenue trend needs at least three unbroken comparable quarters, so none is read here.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−15.2pp
Theme return
−20.2%
Beating SPY
0 of 14
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads new trend, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$2.0B
Avg Volume (60D)
13.7M
60 sessions
Gross Margin
-9.7%
Trailing twelve months
Operating Margin
-949.5%
Trailing twelve months
Free Cash Flow Yield
-12.2%
Distance from 200DMA
-55.8%
Next Earnings
2026-11-09
P/E
N/M
Market metrics as of Nov 6, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Business Performance

Insufficient evidence

A revenue trend needs at least three unbroken comparable quarters, so none is read here.

Latest reported: Q2 FY2026, ended Jun 30
Revenue growthNot enough data
$5.8M
$5.8M in Q2 FY2026 · no comparable year-ago quarter
Not enough comparable quarters for a YoY sequence.
Earnings growthLoss narrowing
-$10.3M
Net income -$10.3M. Per-share figures are not comparable across a large share-count change.
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginNot enough data
—
No year-ago comparison · gross margin -27.2%

Business Quality

Not assessed

Not assessed yet — too few fiscal years of filings are on record.

Fundamentals & Valuation

Both valuation perspectives agree this company is expensive.
USA Rare Earth, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash it currently generates.

What changed

  • USAR rose 10.8% in one session
    USAR closed +10.8% while the broad market was close to flat (+0.3%).
    2026-11-06

Company Research

Thesis
USAR is building an integrated Western mine-to-magnet platform: it has commissioned an initial commercial sintered NdFeB magnet-production line in Stillwater, Oklahoma; operates rare-earth processing and recycling development work in Colorado; and is advancing the Round Top heavy-rare-earth and critical-minerals project in Texas.
Opportunity
High opportunity
Government, defense, semiconductor, energy and industrial buyers are supporting non-China rare-earth extraction, separation, metal/alloy conversion and NdFeB permanent-magnet capacity to reduce strategic supply-chain dependence.
Key risk
Project development and execution risk at Round Top Mountain.

Economic classification

Loading the economic classification…

Business & Markets

Basic Materials · Other Industrial Metals & Mining
What they do

USA Rare Earth, Inc. mines, processes, and supplies rare earth and critical minerals primarily from its Round Top Mountain project in Texas and operates processing and magnet production facilities in the US to serve domestic and international markets.

How it earns

The company generates revenue through the sale of rare earth elements, critical minerals, and permanent magnets to industrial and government customers.

Products & services
Rare earth elements (neodymium, dysprosium, terbium, yttrium, praseodymium, samarium)
Critical minerals (gallium, hafnium, oxides)
Sintered NdFeB permanent magnets
Rare-earth processing and recycling services
Customers & end markets
Aerospace and defense
Semiconductor manufacturers
Energy and mobility sectors
Data centers
Healthcare
Industrial manufacturers
Market position

Emerging domestic supplier building an integrated mine-to-magnet platform in the Western rare earths supply chain.

Demand drivers
Medium cyclicality

Demand is influenced by industrial and defense spending cycles and the pace of technology adoption in sectors requiring rare earth magnets.

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