New York, Feb 24, 2026, 07:32 ET — Premarket
- USA Rare Earth slipped roughly 1.4% before the bell, giving back a bit after jumping 9.1% in the previous session.
- U.S. critical-minerals policy keeps traders on alert, with rare-earth prices fluctuating sharply.
- MP Materials, a peer in the sector, is set to report results on Feb. 26—potentially offering a near-term readthrough for the space.
Shares of USA Rare Earth (USAR) dropped 1.4% to $18.53 in Tuesday’s premarket after jumping 9.1% to finish at $18.79 the previous session. On Monday, the price ranged from $16.84 to $18.93, with roughly 14.7 million shares changing hands. (StockAnalysis)
Why does it matter? USAR’s become a shaky bet on Washington’s bid to restart a homegrown rare earths supply chain—those 17 elements vital for everything from electric cars to military jets. Back in late January, the company announced a $1.6 billion debt-and-equity package backed by the Trump administration. Still, executives admitted there’s no government price floor in place and customer commitments remain up in the air. CEO Barbara Humpton summed it up: “What would be the cost of having access to nothing?” (Reuters)
The policy push is stacking up alongside stronger prices for neodymium and praseodymium (NdPr), two rare earths vital for permanent magnets. In China, NdPr oxide is now trading near $123 per kilogram, clearing the $110 price floor set in the U.S. supply agreement with MP Materials. Neha Mukherjee at Benchmark Mineral Intelligence points to “firm downstream magnet demand and deliberate supply management in China” as the drivers behind the rally, though she flagged that these price levels might not stick. (Reuters)
USAR keeps swinging: strong rallies have tended to spark quick selloffs, while steep declines attract bargain hunters chasing the “made-in-America” minerals angle at lower prices.
Timelines are the big hurdle here. There’s a Texas mine, an Oklahoma magnet plant, and the reality that the U.S. supply chain for this stuff just isn’t scaled up yet. Lining up schedules for all of it is tough enough; getting financing without reliable demand makes it even tougher.
Still, the government support isn’t locked in yet. The company called the Commerce Department’s move a non-binding letter of intent—there’s more work ahead, including due diligence, final paperwork, closing conditions, and needed sign-offs. Commerce Secretary Howard Lutnick said the initiative aims to make supply chains “resilient and no longer reliant on foreign nations.” (SEC)
Traders on Tuesday are eyeing whether the stock can keep Monday’s gains after the bell rings, and if selling at the open peters out or picks up speed.
Another area on the radar: rare-earth-linked stocks. Once momentum turns, the shift usually sweeps across the entire group in one go.
Thursday brings a key event: MP Materials will post its fourth-quarter numbers once U.S. markets wrap up on Feb. 26, followed by a webcast. Watch for any talk on magnet demand and pricing—remarks there could ripple across smaller names such as USAR. (investors.mpmaterials.com)
Investors want specifics now: filings that nail down funding terms, customer wins, firm dates that don’t keep shifting. The stock’s already moving as if those details are make-or-break.
