USA Rare Earth Stock Climbs After DOE Taps Company For Critical Materials Funding

USA Rare Earth (USAR) stock surged 7.09% after being selected by the U.S. Department of Energy for up to $19.3 million in funding to develop a pilot-scale rare earth element separations project. The company also beat Q1 earnings expectations with adjusted losses of 12 cents per share versus 14 cents estimated, and revenue of $5.7 million versus $4.23 million expected.