USA Rare Earth Nears U.S. Government Partnership

Shares of USA Rare Earth surged after CEO Barbara Humpton said the company is in close communication with the Trump administration about a potential government investment, triggering a fresh rally in the stock.

The share price jumped roughly 13% in morning trading, climbed about 48% over the week and has risen more than 120% year-to-date as investors target firms tied to domestic critical-minerals supply chains.

Humpton, who previously led Siemens Government Technologies and serves on the Federal Reserve Bank of Richmond board, said she expects continued partnership with the administration and cited recent federal stakes in Lithium Americas, MP Materials and Intel as precedents.

USA Rare Earth supplies heavy rare-earths, alloys and permanent magnets for energy, EV and defense markets. It recently acquired U.K. producer Less Common Metals, is developing the Texas Round Top deposit with Texas Mineral Resources, and is building a magnet plant in Stillwater, Oklahoma to create a mine-to-magnet domestic supply chain.

The White House has not commented; a federal investment would extend a broader policy to secure critical materials and bolster domestic manufacturing capacity.