USA Rare Earth (NASDAQ:USAR) Shares Up 6.1% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) was up 6.1% during trading on Monday . The stock traded as high as $16.06 and last traded at $15.86. 10,910,026 shares were traded during trading, a decline of 36% from the average session volume of 16,946,186 shares. The stock had previously closed at $14.95.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on USAR shares. Canaccord Genuity Group increased their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Needham & Company LLC decreased their price objective on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 target price on shares of USA Rare Earth in a research report on Thursday, June 4th. Northland Securities initiated coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Roth Capital reduced their price target on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.83.

USA Rare Earth Price Performance

The firm has a market cap of $3.54 billion, a PE ratio of -4.05 and a beta of 2.55. The business has a 50-day moving average price of $20.69 and a two-hundred day moving average price of $20.53.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $5.70 million during the quarter. Equities analysts expect that USA Rare Earth Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the transaction, the director directly owned 18,783 shares in the company, valued at $427,688.91. The trade was a 40.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On USA Rare Earth

Several hedge funds have recently bought and sold shares of USAR. Weiss Asset Management LP acquired a new stake in shares of USA Rare Earth during the first quarter valued at $17,103,000. Tudor Investment Corp ET AL purchased a new stake in USA Rare Earth during the 3rd quarter worth about $8,304,000. Jennison Associates LLC acquired a new position in USA Rare Earth in the 4th quarter valued at about $1,586,000. Encompass Capital Advisors LLC acquired a new position in USA Rare Earth in the 1st quarter valued at about $7,038,000. Finally, JPMorgan Chase & Co. purchased a new position in USA Rare Earth in the 3rd quarter valued at about $734,000.

USA Rare Earth Company Profile

USA Rare Earth (NASDAQ: USAR) is a development-stage critical minerals company focused on advancing a fully integrated rare earth element (REE) and lithium project in the United States. Its flagship asset is the Round Top deposit in West Texas, a large, polymetallic concentration of light and heavy rare earth elements, lithium and other co-products. The company seeks to move this asset through resource delineation, pilot-scale processing and eventual commercial production to address growing domestic demand for secure REE supply chains.

In addition to exploration, USA Rare Earth is engineering an on-site separation facility that will utilize dry magnetic separation and hydrometallurgical flowsheets to produce mixed rare earth carbonates.