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 end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Analysts Set New Price Targets
Separately, Jefferies Financial Group began coverage on shares of Rare Earths Americas in a research note on Wednesday, September 2nd. They set a “hold” rating and a $12.30 price objective for the company. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Rare Earths Americas has an average rating of “Moderate Buy” and an average price target of $25.86.
Check Out Our Latest Report on Rare Earths Americas
Rare Earths Americas Stock Performance
NYSEAMERICAN REA opened at $8.94 on Friday. Rare Earths Americas has a twelve month low of $6.20 and a twelve month high of $30.02. The business’s 50 day moving average price is $10.55.
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. As a group, equities analysts expect that Rare Earths Americas will post -1.38 earnings per share for the current year.
About Rare Earths Americas
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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