Rare Earths Americas, Inc.’s Lock-Up Period Will Expire Tomorrow (NYSEAMERICAN:REA)

Rare Earths Americas’ (NYSEAMERICAN:REA) lock-up period will expire on Monday, November 2nd. Rare Earths Americas had issued 3,333,331 shares in its public offering on May 6th. The total size of the offering was $63,333,289 based on an initial share price of $19.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group started coverage on Rare Earths Americas in a report on Wednesday, September 2nd. They set a “hold” rating and a $12.30 price target on the stock. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.86.

Rare Earths Americas Price Performance

Rare Earths Americas stock opened at $7.96 on Friday. Rare Earths Americas has a 12 month low of $6.20 and a 12 month high of $30.02. The business’s 50 day moving average is $10.44.

Rare Earths Americas (NYSEAMERICAN:REA) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.70) earnings per share for the quarter. As a group, sell-side 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.