American Resources shares rise 8% in Indiana site for rare Earth purification and quarantine

Shares in u.s. resources recently rose 8% after the company said earlier Wednesday that it had chosen the location of its new plant in Indiana.

Noblesville, Indiana, will be home to American Resources's first commercial rare earth purification and separation facility in the US, according to raw material suppliers, including metallurgical carbon and rare earth minerals.

The company said the site provided 6.9 acres of developable land and "aims to expand to 80000 square feet of facilities".

Also on Wednesday, HC Wainwright & Co. Maintain its buy rating and cut its target price to $4 from $4.50. American Resources recently traded at $1.97.