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

Rare Earths Americas’ (NYSEAMERICAN:REA) lock-up period is set to expire 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, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group assumed coverage on Rare Earths Americas in a research note 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.86.

Rare Earths Americas Stock Up 9.6%

Rare Earths Americas stock opened at $8.09 on Wednesday. Rare Earths Americas has a twelve month low of $6.20 and a twelve month high of $30.02. The stock’s 50 day moving average is $10.76.

Rare Earths Americas (NYSEAMERICAN:REA) last released its earnings results on Tuesday, August 11th. The company reported ($0.70) earnings per share (EPS) for the quarter. As a group, research analysts forecast that Rare Earths Americas will post -1.38 EPS for the current 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.