Stocks making the biggest moves premarket: USAR, AAUC, NEM, ENPH
Check out the companies making the biggest moves before the bell: USA Rare Earth — Shares rose more than 21% after the Trump administration took a stake in the rare earths miner. The company will issue 16.1 million shares of common stock and 17.6 million in warrants. Allied Gold — The gold miner climbed more than 3% after it agreed to be acquired by Hong Kong-based Zijin Gold for C$5.5 billion in cash. The deal is expected to close by late April. Newmont — Shares climbed more than 4% as gold prices continued their surge to record levels. The precious metal on Monday climbed above $5,100 for the first time. Enphase Energy — The solar energy stock fell nearly 2% after the company said it would cut its workforce by more than 5%, impacting around 160 employees. Airlines — The group fell as a heavy winter storm affecting much of the U.S. raised concerns of flight cancellations and delays. Shares of United Airlines and American Airlines slid nearly 1%, each. Shares of Delta Air Lines and Southwest Airlines were also lower. AppLovin — The mobile advertising company rose more than 2% after an upgrade from Needham. The firm moved its rating of AppLovin to buy from hold. Needham’s $700 price target indicates 25% upside from Friday’s close. — CNBC’s Sarah Min contributed reporting.
