USA Rare Earth is building a plant in Oklahoma and owns rights to a deposit in Texas so the Pentagon stops buying rare earth magnets from China. The company went public on NASDAQ in 2024, and now everyone who follows the sector understands: rare earths are no longer about science, but about defense, tariffs, and national security.
Fundamentals
On April 2, 2026, the US imposed a 25% tariff on finished magnets and 10% on oxides. China controls 90% of the global market. This is a direct demand transfer from Chinese exporters to USAR.
The same day, the company launched the first phase of commercial production in Stillwater. Customer deliveries will begin in Q2 2026.
On March 31, a distribution agreement was signed with Arnold Magnetic Technologies. The 130-year-old company with defense and aerospace clients will sell USAR magnets through its channels.
On March 5, the deal to buy 100% of the Round Top project in Texas was closed for $73 million in stock. This is one of the largest sources of heavy rare earth metals in the US.
Balance sheet: over $400 million in cash (as of November 2025). In January 2026, the company raised $1.5 billion through a PIPE round. Another $1.6 billion is expected from the US Department of Commerce under the CHIPS Program.
Risks: the company is unprofitable (net loss for Q3 2025 was $156.7 million, including $142.4 million in non-cash items). Tariffs could be reversed with a change in administration.
Technical analysis
On the 3-day chart, price is entering the 16–17 zone. This is the golden pocket, marked on the chart as a possible OTE entry zone.
Strong diagonal support, drawn from spring 2025, is clearly marked. Price has bounced off it multiple times.
Current price: $15.92. Support at 14.07 and 12.10. Resistance at 16.33, then 20.30.
Volume on April 2: 13.2 million shares, more than double the 5–6 million average. Large players are showing interest.
Targets: first 28.24, second 32.07, main 43.98.
The market is pricing USAR on its ability to launch mass production and capitalize on tariffs. The 16–17 zone is holding, volume is high, targets are ahead.