Rare Earths Americas, Inc.'s Lock-Up Period To Expire on November 2nd (NYSEAMERICAN:REA)

Key Points

• Rare Earths Americas’ lock-up period expires November 2, allowing major shareholders and insiders to sell shares. The company issued 3.33 million shares in its May 6 IPO at $19 per share, raising approximately $63.3 million.
• Analyst sentiment is generally positive, with four Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and a $25.86 target price. Jefferies initiated coverage with a Hold rating and a $12.30 target.
• REA shares opened at $7.05, well below the $19 IPO price and its 50-day moving average of $10.98. The company reported a quarterly loss of $0.70 per share, while analysts expect a full-year loss of $1.38 per share.

Rare Earths Americas' (NYSEAMERICAN:REA - Get Free Report) lock-up period will end on Monday, November 2nd. Rare Earths Americas had issued 3,333,331 shares in its initial public offering on May 6th. The total size of the offering was $63,333,289 based on an initial share price of $19.00. After the expiration of the company's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group began coverage on Rare Earths Americas in a research report on Wednesday, September 2nd. They set a "hold" rating and a $12.30 target price for the company. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Rare Earths Americas currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.86.

Rare Earths Americas Stock Performance

Shares of REA opened at $7.05 on Monday. The company has a 50 day moving average of $10.98. Rare Earths Americas has a 1-year low of $6.20 and a 1-year high of $30.02.

Rare Earths Americas (NYSEAMERICAN:REA - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.70) earnings per share (EPS) for the quarter. On average, analysts anticipate that Rare Earths Americas will post -1.38 EPS for the current fiscal year.

Rare Earths Americas Company Profile

Rare Earths Americas Corporation is a mineral exploration and development company focused on advancing rare earth element resources in the United States. Its activities center on the exploration, evaluation and potential development of deposits containing rare earth elements used in applications such as permanent magnets, electronics, defense systems and renewable-energy technologies.

The company's principal asset is the Bear Lodge Rare Earth Project in Wyoming. The project contains rare earth elements, including neodymium, praseodymium, dysprosium and terbium, and has been the focus of efforts to develop domestic extraction and processing capabilities.

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